# finance

posted by .

If the principal P=800, the interest I= 384, and time t = 6 years, find the following: What is the rate?
What is the future value?

• finance -

I = PRT

384 = 800 * R * 6

384/4800 = R

0.08 = 8% = R

## Similar Questions

1. ### math,algebra

Is this correct Business and finance. The simples interest I on a principle of P dollars at interest rate r for time t, in years, is given by I= Prt. Find the simple interest on a principal of \$6000 at 3% for 2 years. Simple Interest …
2. ### Finance

Calculating Interest Rate. Find the interest rate implied by the following combinations of present and future values. PresentValue Years Future Value \$400 11 \$684 \$183 4 \$249 \$300 7 \$300 Since you do not state otherwise, I am assuming …
3. ### Math

Find the finance charge (interest) due on a 9-month loan of \$2,400 at a simple interest rate of 10%.(Use the formula for simple interest: Interest Earned = Principal×Rate×Time) (a)\$ 18.00 (b)\$ 1,800 (c)\$ 180 (d)\$ 1.80 (e)\$ 18 I put …
4. ### ALGEBRA

If the principal P = \$900, the rate r = 7 1/2 %, and time t = 1 year, find the following. What is the amount of interest?
5. ### ALGEBRA

If the principal P = \$700, the interest I = \$504, and time t = 6 years, find the following. (a) What is the rate?
6. ### ALGEBRA

If the principal P = \$500, the interest I = \$525, and time t = 7 years, find the following. (a) What is the rate?
7. ### math

If the principal P = \$500, the interest I = \$250, and the rate r = 10%, find the following. (a) What is the time?
8. ### Finance

Find the future value of \$10,000 invested now after five years if the annual interest rate is 8 percent. a. What would be the future value if the interest rate is a simple interest rate?
9. ### intrest rates

If the principal P = \$500, the interest I = \$100, and the rate r = 10%, find the following. (a) What is the time?
10. ### Math.

For question 1-4 for the interest. All rates are annual interest rates. 1) principal, \$400 rate, 5% time, 1 year. a. \$10 b. \$20 c. \$40 d. \$200 2) principal, \$1,000 rate, 8.5% time, 3 years a. \$255 b. \$170 c. \$22.5 d. \$17 3) principal, …

More Similar Questions