Question

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

Answer 1

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%