If the simple interest on $3,000 for 9 years is $2,430 , then what is the interest rate?

The formula for simple interest is I=prt where I is the interest, p is the principle, r is the rate, and t is the time. Plugging in what you know, you get (2430) = (3000) r (9). Simplifying, you get 2430=27000r. Dividing both sides by 27000, you get r=0.09. This means that the interest rate is 9%.

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