At what rate percent per annum, will $4000 yield an interest of $780 in 18 months (simple interest)?​

Question

At what rate percent per annum, will $4000 yield an interest of $780 in 18 months (simple interest)?​

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RI SƠ 2 weeks 2021-08-29T19:19:00+00:00 1 Answers 0 views 0

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    2021-08-29T19:20:25+00:00

    Answer:

    13%

    Step-by-step explanation:

    780 interest/18 months=43.33 interest/month

    43.33×12=520 interest/year

    principal x interest rate = interest per year

    4000 x interest rate =520

    interest rate =520/4000

    interest rate =.13 or 13%

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