3 years ago

I= 40$ P=500$ t=16 months?

Mathematics

1 answer:

pshichka [43]3 years ago

5 0

Answer:

Step-by-step explanation:

You should have specified that this is simple interest.

I=P(r/12)t

r=(12I)/(Pt)

r=(12(40))/(500(16))

r=0.06

r=6%

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