Question

A $5000 investment earns $1575 simple interest in three years. What is the annual interest rate?

Answer 1

Use the formula: I = prt 1575 = (5000)(3)r Multiply 5000 * 3

your answer would be 10.5, which if u have the same question like me its going to be "C"

Answer 2

The answer is 3.17 remainder 4
The way i got the answer was by dividing 5000 by 1575 and the answer was checked by multiplying 3.17 and 1575