ANSWER:
8.457%
STEP-BY-STEP EXPLANATION:
We have that the simple interest formula is like this:
[tex]A=P\cdot(1+rt)[/tex]Where A is the final amount, r is the annual interest rate, P is the initial principal balance and t is time in years.
We replacing and calculate for r, just like this:
[tex]\begin{gathered} 376830=250000\cdot(1+r\cdot6) \\ 1+6r=\frac{376860}{250000} \\ 6r=1.50744-1 \\ r=\frac{0.50744}{6} \\ r=0.08457 \\ r=8.457\text{\%} \end{gathered}[/tex]Therefore, the simple annual interest rate is 8.457%
