RoedyMcCowen RoedyMcCowen

12-02-2020
Mathematics

contestada

If the simple interest on $5000 for 8 years is $2000. then what is the rate?
The rate is %?

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Аноним Аноним

12-02-2021

Answer:

Simple interest=$2000

time=8years

principal=$5000

rate=100×simple interest/(principal ×time)=$200000/($5000×8)=$200000/40000=5%

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