wittendarnell wittendarnell

28-05-2021
Mathematics

contestada

If the simple interest on $1000 for 7 years is $560, then what is the interest rate

Respuesta :

drmallery drmallery

28-05-2021

Answer:

8%

Step-by-step explanation:

560 interest/7 years=80 interest per year

1000xinterest rate=80

interest rate = 80/1000

Interest rate is 8%

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