Question

4. Mr. Ramos invests $600 at a simple interest rate of 6%. How much interest will he earn in one year?

Answer 1

Answer:

$36 if it's an annual rate. If it's a monthly rate it's $432

Step-by-step explanation:

Since it's such a high interest rate to pay, I think the logical rate would be annually because that's a lot of money for a bank to give