Asked by Sydnee Smith on Apr 24, 2024
Larissa earned $8.74 interest on $1,100 invested from January 11 to June 4. What annual rate of simple interest did she earn?
Annual Rate
The interest rate for a loan or investment over the span of one year.
Simple Interest
Interest calculated only on the principal amount, not on the interest accrued.
Invested
The maneuver of allocating finances with the aspiration of earning income or profit.
- Compute both simple and compound interest across different financial scenarios and investment types.
Learning Objectives
- Compute both simple and compound interest across different financial scenarios and investment types.