2 years ago

Find the interest rate for a principal of $8635 and charged $33549 in interest for 11 years.

Mathematics

1 answer:

Deffense [45]2 years ago

3 0

Answer:

rate = 0.4 %

Step-by-step explanation:

Interest = principal x rate x time

33549 = 8635 x r x 11

33549 = 94985r

r = 33549/94985

r = 0.3532

r = 0.4

rate = 0.4 %

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