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1 year ago

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Mathematics

1 answer:

Mariana [72]1 year ago

3 0

The simple interest rate is $46,800

<h3>What is simple interest?</h3>

Simple interest serves as the interest that is based on the principal amount of a loan or in some cases the deposit in a savings account.

interest rate = 6.5%= 6.5/100= 0.065

time = 12 years

principal = $60,000

Simple interest formular =(Principal x Interest Rate x Time)/100

Simple interest = (12* 0.065* 60000)/100

=$46,800

Therefore, simple interest rate is $46,800

Learn more about simple interest at:

brainly.com/question/20690803

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