arenasemily1118 arenasemily1118

16-11-2021
Mathematics

contestada

If the simple interest on 4,000 for 10 years is 2,400 then what is the interest rate

Respuesta :

sethmiah87 sethmiah87

17-11-2021

Answer:

6%

Step-by-step explanation:

I =Prt I being interest paid, P is Principal, r is rate, t is term

2400=4000x r x 10

2400=40000r

2400/40000=.06 convert to percentage by multiplying by 100 x. 06=6

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