Nathan invests money in an account paying simple interest. He invests $180 and no money is added or removed from the investment. After one year, he has $196.20. What is the simple percent interest per year?
Answers
Answered by
1
Step-by-step explanation:
interest earned = 196.20 - 180
interest earned = $ 16.2
16.2 = Prt/100
16.2 = {180 × r × 1}/{100}
{16.2×100}/{180} = r
r = 9%
Answered by Gauthmath
Similar questions