Respuesta :

Seprum
Equation:
[tex]r = (\frac{1}{t})(\frac{P+I}{P} - 1)[/tex]
Calculation:
[tex]r = \frac{1}{2}(\frac{517}{500} - 1) = 0.017[/tex]

Solution: the annual simple interest rate is 1.7% per year.
Justin23m
0.17*500*2=170
$170 is the annual interest rate.