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Find the annual interest rate. I=$562.50, P=$1500, t=5 years I $ 562.50 P $ 1500 t 5 years The annual interest rate is %

Find the annual interest rate. I=$562.50, P=$1500, t=5 years I $ 562.50 P $ 1500 t 5 years The annual interest rate is %
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Find the annual interest rate. I=$562.50, P=$1500, t=5 years I $ 562.50 P $ 1500 t 5 years The annual interest rate is %

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User Kally
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1 Answer

5 votes
I = PRT 562.5 = 1500 R(5)
562.5/5 =1500 R
112.5 = 1500 R
112.5 / 1500 = R
0.075 = R
R = 7.5%
answered
User Jamell
by
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