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Suppose you invested $1200 for four years. You earned $312 in simple interest. What is the interest rate?
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Suppose you invested $1200 for four years. You earned $312 in simple interest. What is the interest rate?
asked
Aug 21, 2023
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Suppose you invested $1200 for four years. You earned $312 in simple
interest. What is the interest rate?
Mathematics
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Yasser Zamani
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Yasser Zamani
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Answer: 6.5%
Step-by-step explanation: 312/4 = 78
78/1200 = 0.065
0.065 x 100 = 6.5%
Shenika
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Aug 26, 2023
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