Mathematics
Medium
Question
You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate
A
6%
✓ Official correct answer
B
5%
C
7%
D
8%
Community credibility
Registered members can vote for the answer they believe is correct today and explain why. If the facts change after an election or news event, suggest a new option so others can vote it up.
A
6%
No member explanations yet for this option.
B
5%
No member explanations yet for this option.
C
7%
No member explanations yet for this option.
D
8%
No member explanations yet for this option.