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15 August, 13:14

Joannie lent $200 to her sister. Four years later, her sister repaid her in full with $228. What simple annual interest rate did Joannie's sister pay? A. 3.0% B. 3.5% C. 4.0% D. 4.5%

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  1. 15 August, 14:00
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    All of my calculations led me to 7 but I do believe that the answer would be4.5
  2. 15 August, 15:29
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    The answer is 3.5% because 3.5% of 200 is 7 so after four years you have collected 28 in interest.
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