Question

Can someone please help me

Answer 1

Equation:
$r = (\frac{1}{t})(\frac{P+I}{P} - 1)$
Calculation:
$r = \frac{1}{2}(\frac{517}{500} - 1) = 0.017$

Solution: the annual simple interest rate is 1.7% per year.

Answer 2

0.17*500*2=170
$170 is the annual interest rate.