# Algebra

If the principal P = \$600, the interest I = \$210, and time t = 5 years, find the following.
(a) What is the rate

1. 👍 0
2. 👎 0
3. 👁 118
1. P = Po + I = 600.
Po + 210 = 600
Po = 600 - 210 = \$390.

I = Po*r*t = \$210.
390*r*5 = 210
1950r = 210
r = 0.1077 = 10.8 %.

1. 👍 0
2. 👎 0

## Similar Questions

1. ### 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)

asked by Sydney HELP! Need help ASAP! on April 9, 2015
2. ### Algebra

The formula I = PRT where I = Interest, P = principal, R = rate, and T = time is used to calculate the amount of simple interest earned. Solve this formula for T.

asked by Kay on October 22, 2016
3. ### Math

A \$4,000.00 principal earns 5% interest compounded annually. After 4 years, what is the balance in the account? A. \$500,000.00 B. \$4,862.03 *** C. \$4,600.00 D. \$20,250.00

asked by Tana on March 6, 2017
4. ### math

The amount of money in an account with continuously compounded interest is given by the formula A = Pert, where P is the principal, r is the annual interest rate, and t is the time in years. Calculate to the hundredth of a year

asked by Greg on April 22, 2007
5. ### math

An investor purchases 75 shares at 37.90 a share, holds the stock for 150 days, and then sells the stock for 41.20 a share. Find the annual interest rate earned. principal under 3000 3000-10,000 over 10,000 commission 32+1.8% of

asked by Tiffany on March 1, 2013
1. ### Math - Pre Algebra

Simple and Compound Interest Find the simple interest. principal= \$870 interest rate= 6% time= 9 months Please help me I need the answer for tommorow.

asked by Tanisha on April 13, 2009
2. ### math

find total amount due on loan principal 600 rate 2% time in years 2

asked by Anonymous on December 5, 2012
3. ### Math

Find the amount of the principal on a loan at 6% interest for 274 days if the interest was \$68.50, using the ordinary interest method.

asked by Krystle on June 23, 2013
4. ### Algebra

If the principal P=\$600, the interest I=210.00, and the T= 5 Years. What is the rate?

asked by Sue Jackson on September 4, 2012
5. ### math

the total amount of interest on this loan of \$6000 for 150 days is \$210.50. what is the rate of interest on this loan? If not compounded, or simple interest, then Interest=Principal(rateinterest)*time Here time is 5/12 of a year,

asked by Haydee on August 21, 2006