Harold has an investment account with an amount of $\$25\ 000$ at simple interest for $2$ y

Question

Harold has an investment account with an amount of $\$25\ 000$ at simple interest for $2$ years. At the end of $2$ years, this investment account became $\$28\ 200$. Calculate the simple interest rate per annum.

Accepted Answer

$6.4\%$

Standard Form and Compound Interest

Standard Form and Compound Interest