SOLUTION: Karen invest $500 in a fun for 6 years and was paid simple interest. The total interest that she received on the investment was $120. as a percentage, what was the annual interest

Question 1146388: Karen invest $500 in a fun for 6 years and was paid simple interest. The total interest that she received on the investment was $120. as a percentage, what was the annual interest rate of her investment
Found 2 solutions by richwmiller, josgarithmetic:
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
"In a fun"?
Answer by josgarithmetic(39616) (Show Source): You can put this solution on YOUR website!
--------------------------------------------------
Karen invested $500 in a fund ,...
--------------------------------------------------

500 dollars, 6 years, simple interest of 120 dollars

, where r is the simple interest rate as a fraction.
RELATED QUESTIONS
Last year, Teresa had to invest. She invested some of it in an account that paid simple... (answered by stanbon)
Last year, Melissa had to $30000 invest. She invested some of it in an account that paid... (answered by mananth)
Last year, Elsa had $30,000 to invest. She invested some of it in an account that paid 6% (answered by ikleyn,greenestamps)
Last year, Ivanna had $10,000 to invest. She invested some of it in an account that paid... (answered by josgarithmetic)
Last year, Maria had to invest. She invested some of it in an account that paid simple... (answered by stanbon)
Last year, Lena had $10,000 to invest. She invested some of it in an account that paid (answered by checkley79)
Last year, Ashley had to invest. She invested some of it in an account that paid simple (answered by lynnlo)
Last year, Heather had to invest. She invested some of it in an account that paid... (answered by solver91311)
Last year, Ann had $20,000 to invest. She invested some of it in an account that paid (answered by stanbon)