A total of S72.000 was invested for one month in a new money market account that paid simple annual interest at the rate of r percent- If the investment earned $360 in interest for the month, what is the value of r?

A total of S72.000 was invested for one month in a new money market account that paid simple annual interest at the rate of r percent- If the investment earned $360 in interest for the month, what is the value of r?
A . 5.0
B . 6.0
C . 6.5
D . 7.0
E . 7.5

Answer: B