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Sue bought a six-month CD for $5000. She said that at maturity it paid $162.50 in interest. Assume that this was simple interest, and determine the APR.​

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vesgen98

Answer:

apr is 500

Step-by-step explanation:

im an idiot sorry for waisting your time

The annual percentage rate is 6.5%.

Given that,

  • Sue bought a six-month CD for $5000.
  • She said that at maturity it paid $162.50 in interest.

Based on the above information, the calculation is as follows:

[tex]= (162.50 \times 2 \times 100\%) \div \$5,000[/tex]

= 6.5%

Therefore we can conclude that the annual percentage rate is 6.5%.

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