Question 1162003
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His earning from his investment would be 124.00 + 133.42 dollars after 6 months.


His simple interest rate for 6 months would be this ratio  {{{(124.00 + 133.42)/4550.00}}}.


But since we want to know his simple interest per year, we double this ratio.


So we get finally  the annual interest rate  r = {{{(124.00 + 133.42)/(0.5*4550.00)}}} = 0.113 = 11.3%.    <U>ANSWER</U>
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