I think it’s like that but u shld wait for someone else to answer, cuz i’m not sure if im correct cuz the ans is so big
Answer: 4.234, 4.232, 4.228, 4.225
Step-by-step explanation:
When we have numbers higher than five we round up and when we have numbers below find we round down. When we have a number 5 we round up as well.
I chose three because 3*4 is twelve and 36 divided by twelve is three
Based on the calculations, the interest rate on the stock in four (4) years is equal to 7.1%.
<u>Given the following data:</u>
Amount borrowed (Principal) = $22,000.
Simple interest, I = $78.40.
Time = 4 year.
To determine the interest rate on the stock in four (4) years:
<h3>How to calculate simple interest?</h3>
Mathematically, simple interest can be calculated by using this formula:
I = PRT
<u>Where:</u>
- S.I is the simple interest.
- P is the principal or starting amount.
- T is the time measured in years.
Making R the subject of formula, we have:
R = I/PT
Substituting the given parameters into the formula, we have;
R = 6260/(22,000 × 4)
R = 6260/(88,000)
Interest rate = 0.071 = 7.1%.
Read more on simple interest here: brainly.com/question/24341207
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