3,6PS-8 Question Help If the simple interest on $6,000 for 3 years is $1,260, then what is the interest rate? The rate is

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3,6PS-8
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If the simple interest on $6,000 for 3 years is $1,260, then what is the interest rate?
The rate is %
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Revieve rrecs

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Thanh Thu 4 years 2021-09-01T00:53:17+00:00 1 Answers 9 views 0

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  1. bonexptip
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    2021-09-01T00:54:47+00:00
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    I = PRT where I= interest, P = principal (money invested), R = interest rate, T = time in years

    1260 = (6000)(R)(3)
    1260 = 18000R
    R = 0.07, or 7%

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