Niyonnaellzy Niyonnaellzy

06-01-2020
Mathematics

contestada

if the simple interest on 6000 for 9years is 3240 then what is the interest rate

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kenlingdad kenlingdad

06-01-2020

Answer:

Annual interest rate = 6%

Step-by-step explanation:

A: annual interest rate

Interest over n years = Principal x A x n

3240 = 6000 x A x 9

A = 3240 / (6000 x 9) = 0.06

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