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Lauren invests money in an account paying simple interest. She invests $50 and no money is added or removed from the investment. After one year, she has $50.50. What is the simple percent interest per year?

Sagot :

Parrain

Based on the amount invested and the amount it grew to, the simple interest rate is 1%.

Lauren invested $50 and got $50.50 after a year.

What is the Simple Interest rate?

This rate can be found by the formula:

= (Difference in investment in year 1) / Amount invested x 100%

Solving gives:

= (50.50 - 50) / 50 x 100%

= 1%

In conclusion, the rate is 1%.

Find out more about simple interest at https://brainly.com/question/2294792.

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