If the simple interest on $7,000 for 9 years is 3,780, then what is the interest rate?

asked Aug 26, 2022 80.5k views

11 votes

by Vvg

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1 vote

Answer:

Explanation:

Interest = Principal × Rate × Time/100

$3780 = $7000(9)(rate)/100

63000rate = 378000

rate= 378000/63000

rate = 6% per annum (Answer)

Cary Jensen answered Sep 1, 2022

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