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I= $15 P= $400 t= 9 months What is the annual interest rate?

I= $15 P= $400 t= 9 months What is the annual interest rate?
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2 votes
I= $15 P= $400 t= 9 months

What is the annual interest rate?

User CopyrightC
by
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1 Answer

7 votes
R= I/Pt

R= 15/ 400* 9
R= 0.004* 100
R= 0.416

I hope this helps you, I am not 100% sure, you may want to check with someone else but this is what I think it would be
User Discomurray
by
8.5k points
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