After 6 months ,$1.78 simple interest earned on an investment of $890.find the annual interst rate?
In 6 months the interest earned is $1.78 which means that the annual amount of interest (12 months) is 1.78 x 2 = $3.56.3.56/890 x 100% = 0.4 %. Therefore the annual interest rate is 0.4%. ChaCha again soon!
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