Answer:
about 5.55%
Step-by-step explanation:
The interest formula is ...
i = Prt
where i is the interest earned, P is the principal amount, r is the annual rate, and t is the number of years. Fill in the given information and solve for the remaining variable.
5000 = 15000·r·6
5000/90000 = r = 1/18 ≈ 5.55% . . . . . divide by the coefficient of r
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<em>Comment on the answer</em>
The decimal value of 1/18 is 0.0555555... repeating indefinitely. Rounded to 3 digits, it would be 5.56%. The offered answer choices seem to give more attention to the repeating digits than to proper rounding.
