Answer:
Interest rate ≈ 3.48%
Step-by-step explanation:
Answer:
April took out a loan of $600 and paid it back with simple interest of $60 after 5 years. The formula to calculate interest is given the principal and the time and the interest rate is . For this problem we have to find the interest rate given . To archive that , we can just solve the equation making the interest rate the subject of the formula as shown below,
I= Prt
=> r= I/Pt
=> r= 60/600x5 = 1/50
The interest rate is 1/50 or 0.02 as a decimal. The interest rate is 2% as a percentage.
X= 2.5
just move the terms collect the terms calculate it, divide both sides !!
Answer:
numbers ABC sign <u>each</u><u> </u><u> </u><u> </u><u>following</u><u> </u><u> </u><u>find</u><u> </u><u>formula</u><u> </u>
Since this is in the Mathematics subject my best answer would be Rational.