Find the missing value. the principal is $500, the time is 7 years, the simple interest is $140.00, i have to find the rate.
1
Expert's answer
2012-12-03T09:18:30-0500
The simple interest formula is: I = P*R*T, where I - interest, P - principal, R - rate, T - time in years of the loan. Then, R = I/(P*T) =140/(500*7) = 0.04 The rate is 4%
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment