Question

Willie deposited $2500 into a savings account for which simple interest is calculated semiannually. If his $2500 grew to $2540 after 6 months, what is the yearly interest rate on Willie's account?

Answer 1

Yearly is $80 (6 months being half a year)

$80 is 3.2% of $2500

Yearly interest rate is 3.2%

Answer 2

Answer:

3.2%

Step-by-step explanation:

Apex Good luck :)