Some times, we use a different future value factor such as {(1 + (i x t)}. we call this i a simple interest rate. In this case, Future Value = PV x { 1+ (i x t)}, where i = annual simple interest rate, t = time in years. John deposits $100 at a simple interest rate of i per annum at time 0. At the end of 10 years, he has $150 in his account. Determine i. (express your answer in percentage without % sign, for example, if the answer is 8%, type 8 ) *Unless otherwise specified, it is assumed that the interest is a compound interest, not simple interest rate in this course.