The simple interest rate that he would be of 24.33% a year.
Simple interest is used when there is a single compounding per time period.
The amount of money after t years in is modeled by:
[tex]A(t) = A(0)(1 + rt)[/tex]
In which:
In this problem, considering than an year has 365 days, the parameters are as follows:
[tex]A(t) = 204, A(0) = 200, t = \frac{30}{365}[/tex]
Hence:
[tex]A(t) = A(0)(1 + rt)[/tex]
[tex]204 = 200\left(1 + \frac{30}{365}r\right)[/tex]
[tex]1 + \frac{30}{365}r = \frac{204}{200}[/tex]
[tex]\frac{30}{365}r = 0.02[/tex]
[tex]r = \frac{365}{30} \times 0.02[/tex]
[tex]r = 0.2433[/tex]
The simple interest rate that he would be of 24.33% a year.
More can be learned about simple interest at https://brainly.com/question/25296782
