Answer:

Answer:

5%

Step-by-step explanation:

In this problem, we are given the principal, the interest, and the time or term duration of an interest problem.

We have to use the formula:

I = Prt

Rearranging this, we get the formula:

r = I / (Pt)

The following series of equations will display and explain the full solution to solve for the interest rate.

r = I / (Pt)

r = (122.5) / (2100)(14/12)

r = (122.5) / (2450)

r = 0.05 x 100%

r = 5%

Thus, the interest rate is 5%.

Hope this helps!

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Step-by-step explanation: