Question

If the interest 4,000 for 4 years is 1,280 what is the interest rate

Answer 1

For example, with a $4,000 deposit and an annual interest rate of 8 percent, the simple interest after four years would be $1,280. This is calculated by multiplying the principal (P) by the rate (R) and by the rate of time (T): 4,000 x 0.08 x 4 = 1,280.

Explanation:

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