Question

You put $400 in an account. The account earns $18 simple interest in 9 months. What is the annual interest rate?

Answer 1

The annual interest rate is 0.06 or 6%.


thats the answer hope this helps

Answer 2

Answer:

6%

Step-by-step explanation:

Let's start by finding the amount earned per month:

$\frac{18}{9}$=2

Now let's find the % per month

$\frac{2}{400} =.005$, or .5%

Now let's multiply by 12 months to get the annual interest rate

$.005 * 12 = .06$ or 6%