Respuesta :

500 * i * 2 = 17
1000i = 17
i = 17/1000
i = 0.017

0.017 = 1.7%

answer: annual simple interest rate is 1.7%
r=I/Pt is the formula for simple interest rate, so plug in the number given to solve for r :)

Work:
r=17/(500*2)
r=17/1000
r=0.017

To change to a percentage, move the decimal point in 2 times.

Final Answer: 0.017 OR 1.7%


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