Answer:
6%
Step-by-step explanation:
Solving our equation
r = 1200 / ( 2000 × 10 ) = 0.06
r = 0.06
converting r decimal to a percentage
R = 0.06 * 100 = 6%/year
The interest rate required to
accumulate simple interest of $ 1,200.00
from a principal of $ 2,000.00
over 10 years is 6% per year.
