
Bradford T. answered 01/14/21
Tutor
4.9
(29)
Retired Engineer / Upper level math instructor
Annual Simple interest:
I = Prt
1125=6000r(5)
r=1125/(5•6000) = 0.0375 = 3.75%
Sarah L.
asked 01/14/21What was the annual simple interest rate applied to this investment?
Bradford T. answered 01/14/21
Retired Engineer / Upper level math instructor
Annual Simple interest:
I = Prt
1125=6000r(5)
r=1125/(5•6000) = 0.0375 = 3.75%
Get a free answer to a quick problem.
Most questions answered within 4 hours.
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.