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3 years ago

Someone, please help me

Mathematics

1 answer:

dimulka [17.4K]3 years ago

6 0

Answer:

4.3%

Step-by-step explanation:

Write out the formula for simple interest:

i = p r t, where i is the interest earned, p is the principal, r is the interest rate as a decimal fraction, and t is the elapsed time in years.

Here, this i = p r t becomes

$645 = $3000*r*(5 yr).

This is equivalent to:

$645 = $15000r.

Solving for r by dividing both sides of this equation by $15000, we get

$645

r = ------------ = 0.043

$15000

Thus, the correct answer is the first one: 4.3%

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