SOLUTION: If Kachina Caron invested $1800 in a simple interest account and earned $54 in 6 months, what is the annual interest rate?

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Question 665935: If Kachina Caron invested $1800 in a simple interest account and earned $54 in 6 months, what is the annual interest rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
54=1800*r*0.5
r=54/900
r=0.06=6%