A Bank Deposit Paying Simple Interest Grew from an Initial

question 96

Short Answer

A bank deposit paying simple interest grew from an initial sum of $1,000 to a sum of $1,075 in 9 mo. Find the interest rate.
r = __________ %/year

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Definitions:

Socioeconomic Status

A social standing or class of an individual or group often measured by education, income, and occupation.

IQ

Short for Intelligence Quotient, a measure of a person's cognitive abilities in relation to their age group.

Intelligence Test Scores

Quantitative measurements acquired from assessments designed to evaluate cognitive abilities and intellectual potential.

Household Incomes

is the combined gross income of all members of a household who are 15 years old and over, whether related or not.