If you take out a loan for $4,000 and you will owe $4,920 after 2 years, what is the rate of simple interest? Express your answe
r as a percentage rounded to the nearest tenth of a percent if necessary, but do not include the percent sign.
1 answer:
Answer:
11.5
Step-by-step explanation:
Simple interest formula:

where
I = interest
P = principal
r = rate
t = time
In your case,
P = $4,000
I = $4,920 - $4,000 = $920
t = 2 years
So,

The rate as decimal is 0.115 that is 11.5% as percent
You might be interested in
Answer:
C
Step-by-step explanation:
Answer:
THE THIRD ONE
Step-by-step explanation:
Answer:
-2= 1/5x-2 +9
-2= -0.4 +9
Step-by-step explanation:
Answer:
+ 3
+ 2x
Step-by-step explanation:
x(x^2 + x + 2x + 2)
x ( x^2 + 3x + 2)
+ 3
+ 2x
Answer:
1/2 ×4 ×3=6
base is 4
and 3 is height
the answer is 6 as you multiply 1/2 ×base ×height