wcfnw5etwn wcfnw5etwn
  • 23-04-2021
  • Mathematics
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26. Find the Rate when given the Interest.
Interest: $480
Principal: $1600
Time: 6 years *
(1 Point)
5%
0.05%
20%
2.0%

Respuesta :

weltonlogan0 weltonlogan0
  • 23-04-2021
Answer: 5%
Explanation: Use the formula I=prt
Since we do not have the rate, but we have the interest, we plug in everything and try to solve for r (the rate).
480=(1600)(r)(6). To get r alone, we divide out the 6 and 1600. This leaves us with our answer to be r = 0.05. Although this is not in a percentage and we would need it to be, so we would have to multiply it by 100. This gives our percentage to be 5%.
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