If the simple interest on $7,000 for 3 years is $1890, then what is the interest rate?

Mathematics

1 answer:

katovenus [111]2 years ago

5 0

Answer:

I = Prt

Interest = Principal x rate x time

Step-by-step explanation:

1890 = 7000(3)r

1890 = 21000r

r = 1890/21000

r = .09 or 9%

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Use the following law of exponents:

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Therefore,

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