Cooper invests money in an account paying simple interest. He invests $150 and no money is added or removed from the investment. After one year, he has $156. What is the simple percent interest per year? Answer: %

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Cooper invests money in an account paying simple interest. He invests  $150 and no money is added or removed from the investment. After one year, he has  $156. What is the simple percent interest per year? Answer:  %

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Identify principal, total amount, interest: Identify the principal, the total amount after one year, and the interest earned. The principal (initial investment) is $150. After one year, the total amount is $156. The interest earned is the total amount after one year minus the principal. Interest = Total amount after one year - Principal Interest = $156 - $150 Interest = $6Use simple interest formula: Use the formula for simple interest to find the rate. The formula for simple interest is I = PRT, where I is the interest, P is the principal, R is the rate, and T is the time in years. We need to solve for R (the rate). We know that I = $6, P = $150, and T = 1 year. Plugging these values into the formula gives us: $6 = $150 * R * 1Solve for rate: Solve for R (the rate). To find R, we divide both sides of the equation by $150: R = $6 / $150 R = 0.04Convert rate to percentage: Convert the decimal rate to a percentage. To convert a decimal to a percentage, we multiply by 100. Rate as a percentage = R * 100 Rate as a percentage = 0.04 * 100 Rate as a percentage = 4%

Cooper invests money in an account paying simple interest. He invests $\$ 150$ and no money is added or removed from the investment. After one year, he has $\$ 156$ . What is the simple percent interest per year? $\newline$ Answer:________ $\%$

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Cooper invests money in an account paying simple interest. He invests $150 \$ 150 $150 and no money is added or removed from the investment. After one year, he has $156 \$ 156 $156. What is the simple percent interest per year?\newlineAnswer:________ % \% %

Cooper invests money in an account paying simple interest. He invests $\$ 150$ and no money is added or removed from the investment. After one year, he has $\$ 156$ . What is the simple percent interest per year? $\newline$ Answer:________ $\%$