If the simple interest on $6,000 for 9 years is $4,320, then what is the interest rate?
1 answer:
Answer:
6.48%
Step-by-step explanation:
the rule of the simple interest is:
I=PRT
but here we want the rate, and we have I and P and T
so put the rate on 1 side, and all the given numbers in other side
the rule will be like this:
R=I/PT
R=4320/6000×9
R=6.48%
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