Question

Li deposited $17,500 into a bank account that earned simple interest each year. After 2 years, he had earned $2975 in interest.

No money was deposited into or withdrawn from the account.

What was the annual interest rate?

Answer 1

Answer:8.5%

Step-by-step explanation:

I found out that 8.5% was the answer

8.5% of 17500 is 1487.5

1487.5 * 2 equals 2975

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