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Item 11 an account earns simple interest. find the annual interest rate. i= $30 p= $250 t= 3 years

Item 11 an account earns simple interest. find the annual interest rate. i= $30 p= $250 t= 3 years
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Item 11 an account earns simple interest. find the annual interest rate. i= $30 p= $250 t= 3 years

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User Hanego
by
7.7k points

1 Answer

5 votes
I = P x R x T
30 = 250 x R x 3
30 = 750R
30/750 = 750R/750

R = 0.04
R = 4%
answered
User Kevin Rahe
by
8.6k points
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