Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the simple interest rate on a $ 2 0 5 0 investment paying $ 1 , 4 9 3 . 4 3 interest

What is the simple interest rate on a $2050 investment paying $1,493.43 interest in 15.5 years? %(round to the nearest tenth of a percent)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions