Force This test can be saved and resumod later The timer vwill continue to nun i

Question

Force This test can be saved and resumod later The timer vwill continue to nun if you leave the test Remaining Time: 1 hour, 08 minutes, 28 seconds. Question Completion Status > Moving to another question will save this response Question 23 of 32 Question 23 4 points Save Answer Given, Principal $2000, Interest $277, 39 weeks; fnish this sentence. The simgle Interest rate earmed on this investment is ANSWER FORMAT Only give the numeric portion of the answer, do not write the % sign as t is a ready included. Also round to the nearest honde hof a percent Examples: 8.93, 7.00, 3.50) Question 23 of 32 > Moving to another question will save this response 959 PM 2/26/2018

Explanation / Answer

Simple interest = principal * rate * time / 100

or, 277 = 2000 * rate * (39/52) / 100

or, rate = 277 * (52/39) / 20

or, rate = 18.47 %

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