# math

posted by .

help find the simple interest rate. Find the simple interst owed for the use of the money. Assume 360 days in a year. p=\$4000, r=6%, t= 1year

• math -

interest=principle*i^time
interest=4000*i*1
interest=4000*.06=240 dollars

## Similar Questions

1. ### math, algebra

The problem states find the simple interest . Assume a 360 day year. Round result. \$17000 at 9% for 119 days. So, I know i have to use the formula I=Prt so my p = 17000; r = 0.09; t= ?
2. ### math,orrection

is this correct now.. Problem #1 Find the simple interest assume a 360-day year. Round result \$17000 at 9%for 119 days. answer: 5619.44
3. ### Interest Rates

Homer won a prize in the lottery of \$1000, payable \$500 immediately and \$500 plus 4% simple interest payable in 250 days. Getting impatient, Homer sells the promissory note to Moe for \$450 cash after 130 days. Using a nominal 360 day …
4. ### Math

the principle B is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money,. Assume there are 360 days in a year and round to the nearest cent. P=\$4000, r=6.0%and t=6 month
5. ### simple interest

find the simple interest. Assume a 360-day year and a 30-day month. 18000 at 5%; loan made on September 12 and due November 27.
6. ### math

help find the simple interest rate. Find the simple interst owed for the use of the money. Assume 360 days in a year. p=\$4000, r=6%, t= 1year
7. ### ALGERBRA

THE PRINCIPAL IS BORROWED AT SIMPLE INTREST RATE OF R FOR A PERIOD OF TIME t. Find the simple interest rate owned for the time use of the money. Assume 360 days in a year. P=\$5000, R=8.5% t =9 months.
8. ### math

Simple interest the simple interest received from investment is directly proportional to the amount of the investment. By investing \$4000 in a municipal bond you obtain interest of \$280 at the end of 1year. Find a mathematical model …
9. ### math

the simple interest received from investment is directly proportional to the amount of the investment. By investing \$4000 in a municipal bond you obtain interest of \$280 at the end of 1year. Find a mathematical model that gives the …
10. ### simple interest

a student borrow \$12000 at a simple interest rate 4.5% how much interest is owed at the end of 5 years what amount of money must be repaid

More Similar Questions