An account earns annual simple interest. Find the interest earned, principal, interest rate, or time Interest earned: \( \$ 837 \), Principal: \( \$ 3100 \), Interest rate: ?, Time: 6 years.

To find the interest rate in this scenario, you can use the simple interest formula: \( \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} \). Rearranging the formula gives you \( \text{Rate} = \frac{\text{Interest}}{\text{Principal} \times \text{Time}} \). Plugging in your numbers, that’s \( \frac{837}{3100 \times 6} \), which will help you work out the rate. Now, when calculating simple interest, don’t forget that the interest accrued is always based on the principal—it doesn’t compound! This means that for each year, the interest remains constant and is calculated solely off the initial amount of money put in. Doing the math step-by-step ensures you won’t miss anything and won’t end up confused!