pennyshan08 pennyshan08
  • 04-02-2021
  • Mathematics
contestada

If the simple interest on $3,000 for 10 years is $1,800, then what is the interest rate?

Respuesta :

ricdea0822 ricdea0822
  • 04-02-2021

Answer:

17

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 17%/100 = 0.17 per year,

then, solving our equation

I = 1800 × 0.17 × 10 = 3060

I = $ 3,060.00

The simple interest accumulated

on a principal of $ 1,800.00

at a rate of 17% per year

for 10 years is $ 3,060.00.

Answer Link

Otras preguntas

if the voltage of a circuit increases the temperature will_________
Please help me with this question... Fast...
When listing the levels of organization in organisms from least complex to most complex, which level is just below organs in complexity? O cell organism organ s
find the value of the expression. Round decimal answers to the nearest tenth when necessary. 9+7×3^2÷3+9
Simplify the expression 5(2a + 3b) - 4(3a - 5b).
A group of women seen at a diabetes clinic weighed 140, 125, 210, 245, 202, 199, 173, and 197 pounds. What is the range?
how long will it take for my dad to come back
In pg.117: Explain the difference between how Gregor’s father uses to reflect the difference.
Mention 3 ways in which man-made damage to the lithosphere can be done and briefly explain how they can be prevented.
What is the volume, in cubic in, of a cylinder with a height of 8in and base radius of 2in