simple interest rate

posted by kk

Suppose you borrow RM 5000 today and are required to pay interest of RM 200 for a one year period. What is the simple interest rate?

  1. Reiny

    I = PRT
    200 = 5000(R)(1)
    R = 200/5000 = .04 or 4%

Respond to this Question

First Name

Your Answer

Similar Questions

  1. math

    Suppose you borrow $4200 at an annual simple interest rate of 10.5% for a term of 18 months. How much simple interest will you owe?
  2. algebra

    A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was $148. …
  3. Social Studies

    I was wondering if I could check my answers with someone. I'm a bit confused with interest. I put stars next to the answers I chose. Thank you. An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How does …
  4. algebra

    Andrew has a four-year college loan for $20,000. The lender charges a simple interest rate of 5 percent. How much interest will he have to pay?
  5. Dont I need more info for this Math problem??

    You borrow $2,000 at a rate of 3% for a period of 4 years. How much will you re-pay at the end of 4 years?
  6. 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
  7. Algebra

    The Smiths invested $14,000, part at 3% simple interest and the rest at 4% simple interest for a period of one year. if the total interest earned was $460, how much was invested at each rate?
  8. Social studies

    How die a compound interest rate differ from a simple interest rate?
  9. Social Studies

    An interest rate is a special type of (1 point) loan. **price. bank. service. 2. How does a compound interest rate differ from a simple interest rate?
  10. Math

    Deborah deposits $200 into an account that pays simple interest at the rate of 7%. How much will she have at the end of 4 months?

More Similar Questions