Find the annual interest rate i equals $562.50 p equals to $1500 t equals five years

The rate is 7.5%.

Step-by-step explanation: The formula to calculate simple interest is:

Interest = Principal x Rate x Time

So, we need to plug our information into the formula:

$562.50 = $1,500 x R x 5

Now, perform the multiplication that you can:

$562.50 - $7,500R

Next, divide both sides by $7,500:

.075 = R

Therefore, the rate is 7.5%.

the answer is 62

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