Samantha invested $4500 in an account for 3 years at an annual flat rate of interest. At the end of the 3 years, the original investment had grown to $5310.
Find the amount of interest by subtracting the new amount from the initial investment
Interest = $5310 – $4500
= $810
Interest Rate = $$\frac{interest}{investment}\times 100$$
R = $$\frac{810}{4500}\times100$$
= 18% which is for the 3 years
18 รท 3
= 6% pa