If $72 is for 1 yr:

72.25/3400=.02125=2.125%

Jerry N.

asked • 11/02/20The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent.

P = $3400.00, A = $3472.25, t = 3 months

______% (Round to the nearest tenth of a percent.)

More

If $72 is for 1 yr:

72.25/3400=.02125=2.125%

Ask a question for free

Get a free answer to a quick problem.

Most questions answered within 4 hours.

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.

Brenda D.

11/02/20