Answered

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Calculate the simple interest rate. (Round your answer to one decimal place.)
P= $1800, I = $87.30, t = 6 months
EX %

Sagot :

armanarnav

Answer:9.7%/year

R = 9.7%/year

Formula:r = I / Pt

Step-by-step explanation:Mark me as Brainlieist

Calculation:

Solving our equation

r = 87.3 / (1800 × 0.5) = 0.097

r = 0.097

converting r decimal to a percentage

R = 0.097 × 100 = 9.7%/year

The interest rate required to

accumulate simple interest of $87.30

from a principal of $1,800.00

over 0.5 years, is 9.7% per year.

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