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Find the annual rate of interest for each loan. $1240 for 3 years ; 6 months; simple interest:$651 Please solve;( and please show work

Find the annual rate of interest for each loan. $1240 for 3 years ; 6 months; simple interest:$651 Please solve;( and please show work
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3 votes
Find the annual rate of interest for each loan.

$1240 for 3 years ; 6 months; simple interest:$651
Please solve;( and please show work

asked
User Neodan
by
7.3k points

1 Answer

4 votes
formula is p=e^(r)(t) 
answered
User Neenad
by
8.8k points
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