A sum of $9, 000 paid into a bank account for two months (61 days) to attract simple interest will produce $9, 020 at the and of the term. Find the interest rate r and the return on this investment.
A sum of $9, 000 paid into a bank account for two months (61 days) to attract simple interest will produce $9, 020 at the and of the term. Find the interest rate r and the return on this investment.