Principal of 1700 is invested at 8.2% simple interest, paid annually for 7 years. What is the rate of return? Select one: a. 75% b. 63% C. 36% d. 57%

## Step 1: Calculate the total interest earned.### The simple interest formula is , where is the interest, is the principal, is the rate, and is the time. In this case, 1700 r = 0.082 t = 7 I = 1700 \times 0.082 \times 7 = \ .## Step 2: Calculate the rate of return.### The rate of return is the total interest earned divided by the principal, expressed as a percentage. Rate of Return .