An individual invested $1,000 for one year and earned $45 in interest. What is the percentage of interest earned?

A. 4.25%

B. 4.5%

C. neither A or B

Solutions

Expert Solution

Ans B. 4.5%

INTEREST EARNED =	INTEREST / PRINCIPAL * 100
	45 / 1000 * 100
	4.50%

jeff jeffy answered 1 year ago

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