Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

If the simple interest on $7,000 for 9 years is 3,780, then what is the interest rate?

Sagot :

Answer:

6%

Step-by-step explanation:

Interest = Principal × Rate × Time/100

$3780 = $7000(9)(rate)/100

63000rate = 378000

rate= 378000/63000

rate = 6% per annum (Answer)

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.