$20220.00 is invested for 9 years using simple interest. If the future value is $24951.48, what is the intrest rate. Round you answer to the nearest tenth of a percent. $LaTeX: \displaystyle </p>$

Using $LaTeX: \displaystyle FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt}$ . Evaluating gives $LaTeX: \displaystyle r = \frac{24951.48-20220 }{(20220)(9) } = 0.026 = 2.6%$