Carter invests money in an account paying simple interest. No money is added or removed from the investment. To find the balance after a year, he multiplies his current balance by 1.014 . What percent simple interest does the account earn per year? Answer: ______ %

Question

Carter invests money in an account paying simple interest. No money is added or removed from the investment. To find the balance after a year, he multiplies his current balance by 1.014 . What percent simple interest does the account earn per year? Answer: ______  %

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Multiply balance by 1.014: Carter multiplies his current balance by 1.014 to find the balance after a year. This means that the interest rate is included in the 1.014 multiplier. To find the percent interest rate, we need to subtract 1 from 1.014, because the original balance is represented by 1, and the interest is what's added to it. Calculation: 1.014 - 1 = 0.014Calculate interest rate: Now, to express the interest rate as a percentage, we multiply the decimal form by 100. Calculation: 0.014 × 100 = 1.4

Carter invests money in an account paying simple interest. No money is added or removed from the investment. To find the balance after a year, he multiplies his current balance by $1$ . $014$ . What percent simple interest does the account earn per year? $\newline$ Answer: ______ $\%$

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Carter invests money in an account paying simple interest. No money is added or removed from the investment. To find the balance after a year, he multiplies his current balance by 111.014014014 . What percent simple interest does the account earn per year?\newlineAnswer: ______ % \% %

Carter invests money in an account paying simple interest. No money is added or removed from the investment. To find the balance after a year, he multiplies his current balance by $1$ . $014$ . What percent simple interest does the account earn per year? $\newline$ Answer: ______ $\%$