Login or Sign Up

Ask a New Question

Questions
Mathematics

If the simple interest on $2000 for6

years is $, 720 then what is the interest rate?

1 answer
asked by allison
2 years ago
180 views
1. 1
2. 0

i = Prt

720 = 2000*r*6
r = 720/12000 = 0.06 or 6%

answered by oobleck
2 years ago
1. 0
2. 0

You can ask a new question or answer this question.

Did you know?

Did you know that the interest rate can be calculated even if you only have limited information? For instance, if you know that the simple interest on a $2000 loan over a span of 6 years is $720, you can determine the interest rate. By dividing the interest earned ($720) by the principal amount ($2000) and multiplying it by 100, you will find that the interest rate in this case is 6%.

Related Questions

If your bank pays 5.5 percent interest on savings deposits, what is the simple interest paid in the third year on an initial
Bill takes a lot of $9,000 and an 8% simple interest rate for 6 yearsHow much interest will Bill pay after 2 years? How much
Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years.a. How much interest will she pay after 3 years? b. how
A bank offers two interest account plans. Plan A gives you 6% interest compound annually. Plan B gives you 13% annual simple
1.Find the interenst earned in an acount with $600.00 invested at 4.5% annual simple interest for 2 years.A. $540.00 B.
An investment service promises to triple your money in 12 years. Assuming continuous compounding of interest, what rate of
if the simple interest on $2000 for 8 years is $960, then what is the interest rate?
A principal of $2000 was invested in a savings account for 4 years. If the interest earned for that period was $480 what is the
Calculate the simple interest for each situation. Choose THREE that have a simple interest greater than $800.00.a. $2,000.00 at
Sophie borrowed $2000 at a simple interest rate of 15% for 3 years to repay the loan and has $900 in interest. If Sophie's

Questions LLC

Use AI to answer your questions.

Ask a New Question

Company

About Us
Careers
Contact Us
Privacy Policy
Terms of Use

Questions

Archives
Categories
Newest
Random
Search

Trending

Now
Today
Week
Month
Year

Social

Facebook
Instagram
LinkedIn
YouTube
X

© 2024 Questions LLC. All rights reserved.