Biridianagoffical202 Biridianagoffical202

15-03-2021
Mathematics

contestada

What is the simple interest rate on a $2300 investment paying $906.20 interest in 19.7 years?

Respuesta :

samuelonum1 samuelonum1

20-03-2021

Answer:

2%

Step-by-step explanation:

Given data

Principal=$2300

Simple interest=$906.20

Time= 19.7years

Required

The rate in percentage

We know that

SI=PRT/100

substitute

906.20=2300*R*19.7/100

906.20=45310R/100

cross multiply

906.20*100= 45310R

90620= 45310R

R= 90620/45310

R=2%

Hence the rate is 2%

Answer Link

Otras preguntas

What president formed the "return to normalcy" program for the United States? Woodrow Wilson Theodore Roosevelt Warren G. Harding

What are the OSHA violation types?

what is the prime number of 24

This Mexican leader made treaties that hurt his nation's economy, resulting in revolution. Francisco Madero Porfirio Diaz Emiliano Zapata Pancho Villa

Adam is warming up before baseball practice. Which of these activities would provide the best dynamic stretch to prepare him for pitching? Leg kicks Neck exte

Find the area of the figure. 13 m 6 m 8 mm 4 m

Why do you think that many Americans think the first amendment is the most important amendment?.

simplify (3r^2+4) (2r-1).-8r^3+6r^2

With a suspension bridge, like the one in the photograph above, the weight is distributed __________________.

How is the Sykes-Picot agreement affecting Syria today?