Respuesta :

semsee45

Answer:

11.11% (nearest hundredth)

Step-by-step explanation:

Simple interest formula

A = P(1 + rt)

where:

  • A = final amount
  • P = principal
  • r = interest rate (in decimal form)
  • t = time (in years)

Given:

  • A = $3500
  • P = $2800
  • t = 2 years 3 months = 2.25 years

Substitute given values into the formula and solve for r:

⇒ 3500 = 2800(1 + 2.25r)

⇒ 3500 = 2800 + 6300r

⇒ 700 = 6300r

⇒ r = 1/9

Convert the interest rate into a percentage:

⇒ r × 100% = 1/9 × 100% = 11.11% (nearest hundredth)

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