nathernandez3 nathernandez3
  • 03-12-2021
  • Mathematics
contestada

If the simple interest on 5,000 for 3 years is 1,200 then what is the interest rate

Respuesta :

jdoe0001 jdoe0001
  • 03-12-2021

[tex]~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$1200\\ P=\textit{original amount deposited}\dotfill & \$5000\\ r=rate\to r\%\to \frac{r}{100}\\ t=years\dotfill &3 \end{cases} \\\\\\ 1200=(5000)\left( \frac{r}{100} \right)(3)\implies 1200=150r\implies \cfrac{1200}{150}=r\implies 8=r[/tex]

Answer Link

Otras preguntas

why is electrolysis a chemical change?
19. Read each sentence, and decide whether the underlined portion contains a mistake. If it does, identify the best way to correct or improve the sentence by
Search results for "Emily wants to make a rectangular model with a height of one connecting tube. She wants to make the model in exactly 2 different ways. How m
Which type of climate has no winter
A total of 512 tickets were sold for the school play. They were either adult tickets or student tickets. The number of student tickets sold was three times t
Determine the rate A phone calls costs $7 for 3 minutes __ $ per minute Help!
Factor the sum or difference of cubes. x^{3} + 64
what type of government emerged after the french revolution
Which observation would most likely be made before an experiment?
What is 12 out of 15 written as a decimal, fraction, and a percent?