if the simple interest of $38,000 in three years is $5700 what is the rate?

Question

if the simple interest of $38,000 in three years  is $5700 what is the rate?

Ms. Sue · Answer

I = Prt 5,700 = 38,000 * 3r 0.15 = 3r 0.05 = r rate = 5%

maribel · Answer

Thank you Ms. Sue for your help. Can you please explain to me from here 0.15 came from? really appreciate it.

Ms. Sue · Answer

5700 / 38,000 = 0.15 You're welcome.