3 years ago

If the simple interest on $3,000 for 8 years is $1,200, then what is the interest rate?

Mathematics

1 answer:

Usimov [2.4K]3 years ago

8 0

Answer:

i THINK its 18.75% per year

Step-by-step explanation:

r = (1/8)((3,000/1200) - 1 ) = 0.1875

r = 0.1875 * 100 = 18.75

(dont take my word tho, u should double check yourself)

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If the simple interest on ​$3,000 for 8 years is ​$1,200​, then what is the interest​ rate?

If the simple interest on $3,000 for 8 years is $1,200, then what is the interest rate?