Answer:
The interest rate after 6 years would be 5%.
Step-by-step explanation:
The proper equation for simple interest over time is A=P(1+rt), where 'A' is the amount of money after the principal amount 'P' has been invested at an interest rate 'r' over a certain amount of time 't'. In order to find the interest rate 'r', we need to plug in the given values of the other variables. So, $2535=$1500(1+6r). To solve, we need to first divide both sides of the equation by 1500 to get 1.3 = 1 + 6r, then subtract 1 from both sides to get 0.3=6r, then divide both sides again by 6 in order to get the final answer of 0.05, which when multiplied by 100 gives us a percentage of 5%.
