SOLUTION: Braun invested R8350 in an account that pays simple interest.AFter six years,the accumulated amount was R12859.what was the simple interest rate on this investment?

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Question 1148631: Braun invested R8350 in an account that pays simple interest.AFter six years,the accumulated amount was R12859.what was the simple interest rate on this investment?
Answer by ikleyn(52786) About Me  (Show Source):
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8350 + 8350*r*6 = 12859    dollars


8350*6*r        = 12859 - 8350


8350*6*r        = 4509


r               = 4509%2F%288350%2A6%29 = 0.09.


ANSWER.  Simple interest rate is 9% per annum.

Solved.