N P.

asked • 02/27/21

calculate the simple interest rate.(round your answer to one decimal place).

p=$2700, I=$153, t=8 months

1 Expert Answer

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Alex G. answered • 02/28/21

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You are given the principal, or initial amount, as well as the interest and time. You just need to find the interest rate.


Use the formula for simple interest, I = prt


Rearrange the equation to get r by itself. Substitute what you are given and solve.


Hope that helps.

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