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%

Question

Carmelo Frey

15 August, 13:14

+1

Answers (2)

Know the Answer?

Cruz Allen · Answer 1

All of my calculations led me to 7 but I do believe that the answer would be4.5

Elizabeth Woodard · Answer 2

The answer is 3.5% because 3.5% of 200 is 7 so after four years you have collected 28 in interest.