Li deposited $17,500 into a bank account that earned simple interest each year. After 2 years, he had earned $2975 in interest. No money was deposited into or withdrawn from the account.

What was the annual interest rate?

The annual interest rate was $1487.50

Step-by-step explanation:

All you do is 2975 divided by2=1487.50

example 2 – simplify: step 1: completely factor both the numerators and denominators of all fractions. step 2: change the division sign to a multiplication sign and flip (or reciprocate) the fraction after the division sign; essential you need to multiply by the reciprocal. step 3 : cancel or reduce the fractions.

i think there was a typo. you wrote pat brings 3 quarts of ice-cream to the party. each serving of ice-cream is 1 6 quart. how many total servings of ice-cream does pat bring to the party? i think the bold is supposed to be 1/6. so 1 quart of ice cream = 6 servings. 6 * 3 = 18.