Asked by Dena
What is the rate if the interest is $1,200, the time is 3 years and the principle is $5,000?
Answers
Answered by
Ms. Sue
I = PRT
1,200 = 5,000 * R * 3
1,200 = 15,000R
1,200 / 15,000 = R
0.08 = R
1,200 = 5,000 * R * 3
1,200 = 15,000R
1,200 / 15,000 = R
0.08 = R
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