SOLUTION: If $23,500 earned simple interest of $1057.50 in 9 months, qhat was the simple interest

SOLUTION: If $23,500 earned simple interest of $1057.50 in 9 months, qhat was the simple interest

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Question 625121: If $23,500 earned simple interest of $1057.50 in 9 months, qhat was the simple interest
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If $23,500 earned simple interest of $1057.50 in 9 months, qhat was the simple interest
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1057.5/23500 = 0.045
= 4.5%
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4.5/9 = 0.5% per month
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