## Intermediate Algebra (12th Edition)

$r=0.75\%$
We know that the simple interest formula is: $Interest=Principal*Rate*Time$ $I=prt$ We solve for the rate, $r$: $\displaystyle r=\frac{I}{pt}$ And plug in $I=25.5$, $p=3400$, and $t=1$: $r=\frac{25.5}{3400*1}$ $=0.0075$ $=0.75\%$