Answer:
2%
Step-by-step explanation:
Given data
Principal=$2300
Simple interest=$906.20
Time= 19.7years
Required
The rate in percentage
We know that
SI=PRT/100
substitute
906.20=2300*R*19.7/100
906.20=45310R/100
cross multiply
906.20*100= 45310R
90620= 45310R
R= 90620/45310
R=2%
Hence the rate is 2%
