Darkangel11
Darkangel11 Darkangel11
  • 21-12-2020
  • Mathematics
contestada

Please help me!?


If the simple interest on
$7,000 for 7 years is $3,920, then what is the interest rate?

Respuesta :

tarabhandari377
tarabhandari377 tarabhandari377
  • 21-12-2020

Answer:

interest rate = P * T * R / 100

or, 3920 = 7000 * 7 /100

or, 3920 = 490

therefore, interest rate = 3430

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