Answer:
The percentage rate is 4.5%.
Step-by-step explanation:
The given formula for simple interest is I=prt where I=simple interest, p=principle, r = percentage rate and t=time. In the problem, we are told that after six years (t=6), $7000 (p=7000) earns $1890 (I=1890). We can then substitute in the values for three of our variable to get the following: 1890 = (7000)(6)r. Multiplying 7000x6 = 42000 giving us 1890 = 42000r. Using inverse operations, we divide both sides of the equation by 42000 to get 0.045 = r. Since r = percentage rate, we need to multiply our decimal by 100 to find the percentage. 0.045 x 100 = 4.5%.
Answer:
5.38516480713
Step-by-step explanation:
I hope this helps.
Answer:
you need to explain what the question is
Step-by-step explanation:
