SOLUTION: how do I find the rate if the interest is $427.50, the Principle is $1,500 and the time is 2 years?

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Question 425649: how do I find the rate if the interest is $427.50, the Principle is $1,500 and the time is 2 years?
Answer by stanbon(57219) About Me  (Show Source):
You can put this solution on YOUR website!
Was the interest "simple" or "compounded"?
If it was compouded, how many times per year?
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Cheers,
Stan H.