Answer:
1.2%
Step-by-step explanation:
Solving our equation
r = 10.2 / ( 425 × 2 ) = 0.012
r = 0.012
converting r decimal to a percentage
R = 0.012 * 100 = 1.2%/year
The interest rate required to
accumulate simple interest of $ 10.20
from a principal of $ 425.00
over 2 years is 1.2% per year.
