beautyLamdatb beautyLamdatb

15-05-2016
Mathematics

contestada

A $6000 investment earns $690 simple interest in two years. What is the annual interest rate?

A.
1.15%
B.
5.75%
C.
11.5%
D.
57.5%

Respuesta :

18-05-2016

2 years simple interest is $690
1 year simple interest is $690/2 = $345

$6000 simple interest is $345
$1000 simple interest is $345/6 = $57.5
$100 simple interest is $57.5/10 = $5.75

Annual interest rate is 5.75%

Answer Link

Otras preguntas

If a spool for thread is 2 cm in diameter then one wind of thread is about how many centimeters long? Use 3.14 for pie

A submarine descends at a constant rate of 300 feet per minute. Which of the following equations best represents how to find the change of altitude of the subma

A submarine descends at a constant rate of 300 feet per minute. Which of the following equations best represents how to find the change of altitude of the subma

someone answer this for me please xoxo

A chronic infection of what is likely to kill a person with cystic fibrosis?

Which two plants with psychoactive properties were known to be used for medicinal purposes in ancient egypt? a. the poppy and the blue lotus b. cannabis and the

What is the common difference in the sequence 10, 20, 30, 40, 50,... ? A. 10 B. -10 C. 1/2D. -1/2

And it's important to mention measuring the specific heat for a certain object is done by using the calorimetry as a water container that is thermally insulated

Why Not all sources of information are useful to quench curiosity?

F(x)=-4x^3+15x^2-8x-3 b.) Determine the possible number of turning points of f(x). # of possible turning points:?