2 years ago

If the simple interest on $1000 for 7 years is $560, then what is the interest rate

Mathematics

1 answer:

levacccp [35]2 years ago

4 0

Answer:

Step-by-step explanation:

560 interest/7 years=80 interest per year

1000xinterest rate=80

interest rate = 80/1000

Interest rate is 8%

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If the simple interest on ​$1000 for 7 years is ​$560​, then what is the interest​ rate

If the simple interest on $1000 for 7 years is $560, then what is the interest rate