Respuesta :
The interest rate might you won't earn on your money over the one-yr length interest = P x R x N.
Right here's the simple interest formula: hobby = P(15000) x R x N. P = essential amount (the start stability). R = interest price (16000-15000)(typically in line with 12 months, expressed as a decimal). N = wide variety of time periods (generally one-12 months time periods).]
An interest rate tells you the way high the value of borrowing is, or high the rewards are for saving. So, if you're a borrower, the interest fee is the amount you're charged for borrowing cash, shown as a percent of the overall amount of the mortgage.
in the case of cash you own, such as a financial savings account, interest is the quantity you earn while you permit a person else to use or keep your funds. for instance, if you borrow $5,000 at an easy interest price of 3% for five years, you may pay a total of $750 in the hobby. The method for the simple hobby is A = P (1 + rt).
Learn more about interest rates here: https://brainly.com/question/25793394
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