Terry’s investment of $2,200 in the stock market earned $528 in two years. Find the simple interest rate for this investme

Question

Terry’s investment of
$2,200 in the stock market earned
$528 in two years. Find the simple
interest rate for this investment.

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Khoii Minh 5 years 2021-07-17T14:37:30+00:00 1 Answers 37 views 0

Answers ( )

  1. Eirian
    0
    2021-07-17T14:39:19+00:00
    Reply

    Answer:
    24%

    Step-by-step explanation:
    t = ???
    P = 2,200
    I = 528
    r = 12%
    528 = 2,200(t x 1)
    t = 528/2,200
    t = 0.24
    t = 0.24 x 100 = 24%

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