Answer:9.7%/year
R = 9.7%/year
Formula:r = I / Pt
Step-by-step explanation:Mark me as Brainlieist
Calculation:
Solving our equation
r = 87.3 / (1800 × 0.5) = 0.097
r = 0.097
converting r decimal to a percentage
R = 0.097 × 100 = 9.7%/year
The interest rate required to
accumulate simple interest of $87.30
from a principal of $1,800.00
over 0.5 years, is 9.7% per year.
