SOLUTION: what is the annual interest rate if $7200 is invested for 15 months and earns $855 interest

SOLUTION: what is the annual interest rate if $7200 is invested for 15 months and earns $855 interest

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Question 590757: what is the annual interest rate if $7200 is invested for 15 months and earns $855 interest
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
r=I/Pt
r=855/7200*(15/12)
r=855/9000
r=0.095=9.5%
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