John s simple interest savings account had a balance of 1471

Last updated: 5/10/2023

John s simple interest savings account had a balance of 1471 during the month of January At the end of the month he received 2 40 in interest The interest is calculated daily What rate of interest is John s account paying Round your answer to 2 decimal places For instance if it is 1 643 then the rate is rounded to 1 64