Answer: The annual interest rate r= 8%
Step-by-step explanation:
Given: The invested amount = $500,000.
The annual interest = $40,000
The annual interest rate is given by :-

Hence, the annual interest rate r= 8%
45 to get j by itself you need to multiply both sides by 9
Use the PACED decision-making process to make a decision or make a choice. The steps to follow when making a decision can be easily remembered when you use the word PACED:
P - What is the PROBLEM - Why is there a need to make a choice?
A - What are the ALTERNATIVES - What are the possible choices available?
C - Establish the CRITERIA - Why is one choice better than the other?
E - EVALUATE the alternatives - How well does each choice meet the criteria?
D - Make a DECISION - What is the best choice?