Answer: 6%
Step-by-step explanation:
Principal= $1875
Time= 10 years
Interest= $1125
Rate = Unknown
Recall that,
Interest= (Principal×Rate×Time)/100
I = PRT/100
100I = PRT
R= (100×I)/PT
Rate = (100 × 1125)/(1875 × 10)
Rate = 112500/18750
Rate= 6%
The rate is 6%
5/6 and 1/6 are exponents to X. The X’s are divided by each other. does that make sense?
Mutiplying: the product is always 0