Answer:
6%
Step-by-step explanation:
Given that :
Principal , P = $1950
Interest earned, I = $321.75
Period, t = 2 years 9 month = 2 9/12 = 2.75
I = P * r * t
321.75 = 1950 * r * 2.75
321.75 = 5362.5 * r
r = 321.75 / 5362.5
r = 0.06
r = 0.06 * 100% = 6%
