Answer:
5%
Step-by-step explanation:
Given that:
Principal = $3000
Simple Interest paid = $600
Period = 4 years
Simple interest = principal * rate * time
$600 = $3000 * rate * 4
$600 = $12000 * rate
Rate = $600 /$12000
Rate = 0.05
Hence, simple interest rate paid = (0.05 * 100%) = 5%
Answer:
4/15 is your answer my friend
Step-by-step explanation:
In financial<span> planning, </span>polynomials<span> are used to calculate interest rate problems that determine how much money a person accumulates after a given number of years with a specified initial investment.</span>
Answer:
all work pictured and shown
-1/3
Use the formula m = y2-y1/ x2 - x1.
Substitute the x and y values and you'll get -1/3