Answer:
5%
Step-by-step explanation:
Solving our equation
r = 4537.5 / ( 9075 × 10 ) = 0.05
r = 0.05
converting r decimal to a percentage
R = 0.05 * 100 = 5%/year
The interest rate required to
accumulate simple interest of $ 4,537.50
from a principal of $ 9,075.00
over 10 years is 5% per year.
