$8500 was invested on April 23. The investment was valued at $9,290 at maturity on October 18. What simple interest rate, to the nearest percent, did this investment earn? 016% 018% 019% 017% 015%

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Q: what is 2% higher than 3.167% interest rate?

A: Please see the answer in Step 2

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Q: How much will be charged in prepaid interest on a $500,000 loan with an APR of 3.725% that was…

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Q: If $1900 earned simple interest of $38.95 in 6 months, what was the simple interest rate? The simple…

A: I = 38.95 P = 1900 t = 6months=   (1/2) = 0.5

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