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3 years ago

QUESTION 1

Mathematics

1 answer:

wlad13 [49]3 years ago

3 0

Based on the information given, the simple interest rate that will be earned will be 13.6%.

Principal = $5250
Simple Interest = $6500- $5250 = $1250
Time = 21 months = 1.75 years.

Simple Interest = PRT / 100

1250 = (5250 × 1.75 × R) / 100

Cross multiply

125000 = 9187.5R

R = 125000 / 9187.5

R = 13.6%

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