hmur9796 hmur9796

10-11-2021
Mathematics

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If the simple interest on $1000 for 2 years is $100, then what is the interest rate?

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jadnessofficial jadnessofficial

10-11-2021

Answer:

R = 450%/year

Equation:

r = (1/t)(A/P - 1)

Converting r decimal to R a percentage

R = 4.5 * 100 = 450%/year

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tjaboagye tjaboagye

10-11-2021

Jenerucshshhdhdhshshsdhhsbnjd

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