The simple interest that said investment yielded was 3.75% per year.
Step-by-step explanation:
Given that Sarah's current account balance is $ 2,600, and she made a single lump sum amount of $ 2,000 eight years ago into the account, to calculate the equivalent simple interest rate (quoted annually) that she earned the following calculation must be performed:
(2,600 - 2,000) / 8 = X
600/8 = X
75 = X
2,000 = 100
75 = X
75 x 100 / 2,000 = X
7,500 / 2,000 = X
3.75 = X
Thus, the simple interest that said investment yielded was 3.75% per year.
