Answer:
2% per year.
Step-by-step explanation:
Solving our equation
r = 960 / ( 12000 × 4 ) = 0.02
r = 0.02
converting r decimal to a percentage
R = 0.02 * 100 = 2%/year
The interest rate required to
accumulate simple interest of $ 960.00
from a principal of $ 12,000.00
over 4 years is 2% per year.
