Item 9 You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate? The annu
al interest rate is %.
1 answer:
Answer:
0.06 or 6%
Step-by-step explanation:
I=Prt, so r= 1/(Pt)
T= 9 months/12 months=0.75
R=$18/($400*0.75)=0.06 or 6%
Note the * is times
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