someone02992 someone02992

27-07-2022
Mathematics

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5. Enter the answer as a decimal
Calculate the rate of interest, when simple interest = $5,616;
loan amount = $7,200 and time = 12 years.

Respuesta :

mathstudent55 mathstudent55

27-07-2022

Answer:

6.5%

Step-by-step explanation:

I = prt

5616 = 7200 × r × 12

r = 5616/(7200 × 12)

r = 0.065

r = 6.5%

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