saraalomari42277
saraalomari42277 saraalomari42277
  • 01-05-2021
  • Mathematics
contestada

If the simple interest on ​$1,000 for 8 years is ​$​ 480 then what is the interest​ rate?

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 06-05-2021

Answer:

6%

Step-by-step explanation:

Given data

Principal = ​$1,000

Time= 8 years

Simple interest= ​​$480

The expression for the simple interest is

Simple interest= PRT/100

Substitute

480= 1000*R*8/100

Cross multiply

480= 8000R/100

480*100= 8000R

48000= 8000R

Divide both sides by 8000

R= 48000/8000

R=6%

Answer Link

Otras preguntas

Write the empirical formula of at least four binary ionic compounds that could be formed from the following ions: Zn2+, Fe2+, F-, S2-
What is the equation for the line?
5+3h-(h-5)+12h can you solve it?
Myra has a 17 foot roll of crepe paper to make 8 streamers to decorate for a party. How long will each streamer be if she cuts the roll into equal pieces?
In a chemical reaction, a reactant binds to an enzyme at a region known as the...
How do ecologists use diagrams such as the figure below to study ecological relationships?
what is a factor that affects soil development
For which speech would a formal tone be most appropriate? A. A speech to welcome people to a local talent show B. A speech to say good-bye on the last day
A research paper examining the removal of Native Americans to reservations is A. a historical report. B. an argumentative paper. C. an analytical paper. D.
What can the reader conclude about the story that Simon Wheeler is going to tell the narrator? A) The story will be long and tedious. B) Smily thinks the story