Based on the amount invested and the amount it grew to, the simple interest rate is 1%.
Lauren invested $50 and got $50.50 after a year.
What is the Simple Interest rate?
This rate can be found by the formula:
= (Difference in investment in year 1) / Amount invested x 100%
Solving gives:
= (50.50 - 50) / 50 x 100%
= 1%
In conclusion, the rate is 1%.
Find out more about simple interest at https://brainly.com/question/2294792.
