Ask Question
17 December, 11:12

What is the interest rate, as a percent, that is necessary to earn 300 dollars in simple interest if 6000 dollars are invested for 5 years, to 1 decimal place?

+3
Answers (1)
  1. 17 December, 13:25
    0
    I = Prt

    $300 = $6000 x r x 5

    $300 = $30000 x r

    r = $300:$30000

    r = 0.01

    The interest rate should be 1% to earn 300 dollars in simple interest terms.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What is the interest rate, as a percent, that is necessary to earn 300 dollars in simple interest if 6000 dollars are invested for 5 years, ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers