Question

The simple interest on $15,000 for 4 years
is $8, 100. Calculate the rate percent per annum.​

Answer 1

13.5%

Explanation:

8100 interest/4 years=2,025 interest per year

principal x interest rate=interest per year

15000 x interest rate=2025

interest rate =2025/15000

interest rate=.135 or 13.5%