Question

Joannie lent $200 to her sister. Four years later, her sister repaid her in full with $228. What simple annual interest rate did Joannie's sister pay?

Please help!! I am not good with Mathematics at all!

Answer 1

She most of paid and annual interest of 57$ a year. I just simply divided 228$ by 4 which is how many years it took. :) I hope I got it right.

Answer 2

Her sister paid her 7% annual interest rate