MATH HELP?

2016-11-06 7:49 pm
what was the rate of simple interest paid if a $1500 investment earned $100 in a year

回答 (2)

2016-11-07 12:22 pm
Simple interest = Principal x Rate x Term

100 = 1500 x Rate x 1

Rate = 100/1500 = 6.67%
2016-11-06 7:54 pm
1600 = 1500(1+x)
1600 = 1500 + 1500x
100 = 1500x
.06666 = x
x = 6.667%

Interest Rate 6.67%


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