Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Solve for the missing item in the following. (Do not round intermediate calculations. Round your answer to the nearest whole percent.)
Principal 5,000 time 6 months simple interest 300

Rate?

Sagot :

The rate is 1.2%.

What is Simple interest?

Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account.

Given:

P = 5000

T =6 month= 1/2 year

SI= 300

We know,

SI= P*R*T/100

300= 500* R * 1 /200

60000= 500R

R= 60000/500

R= 120

R= 1.2%

Learn more about simple interest here:

https://brainly.com/question/25845758

#SPJ1

Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.