4 years ago

With interest of $1,832.00 and a principal of $16,000 for 206 days, use the ordinary interest method to determine the rate.

2 answers:

5 0

I = 1832 
P = 16000 
T = 206/365 years 
Rate of interest = [100*I] / [P*T] 
= [100*1832] / [16000*206/365] 
= 20.29% per annum

3 0

Answer:

20%

Step-by-step explanation:

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