Answer:
Step-by-step explanation:
Given,
Principal ( P ) = $ 6000
Amount ( A ) = $ 14550
Time ( T ) = 10 years
Rate ( R ) = ?
<u>Finding </u><u>the </u><u>Interest</u>
The sum of principal and interest is called an amount.
From the definition,
plug the values
⇒
Swap the sides of the equation
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Move 6000 to right hand side and change its sign
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Subtract 6000 from 14550
⇒
Interest = $ 8550
<u>Finding </u><u>the </u><u>rate </u>
plug the values
⇒
Calculate
⇒
⇒
Hope I helped!
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