Question

3. The simple interest on $6,000 for 4 years is $1,680. *

Answer 1

Substituting the numbers into the simple interest formula, we get
I=. p r t
1,680=(3000)(r)(8). Multiplying
1,680= 24,000r Divide both sides by 24,000
0.07= r
So, the percentage is (0.07)(100)= 7%...

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