Good afternoon, Bri!
For simple interest, we use this formula: I=Prt. I=interest, P=principal amount, r=rate, t=time.
So, let's plug in the values that we know: 456.70=(5700)r(5). Now, we simply solve for r.
5700 times 5 = 28,500. Now we have 456.70=28500r. Divide by 28500 on both sides; this gives us .01602456=r.
So, the rate is 1.602456%.
Hope this helps!