I= $15 P= $400 t= 9 months What is the annual interest rate?

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asked May 7, 2020 47.3k views

1 Answer

Discomurray · Answer 1 · 2020-05-12T12:36:50+0000

R= I/Pt

R= 15/ 400* 9
R= 0.004* 100
R= 0.416

I hope this helps you, I am not 100% sure, you may want to check with someone else but this is what I think it would be

I= $15 P= $400 t= 9 months What is the annual interest rate?

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