Question

Question 5

Find the interest rate for a principal of $6570 and charged $30105 in interest for 12 years.

The Formula is
I
PT
x 100
Take the interest divide by the principal
then divide by the years
then times by 100
Round your answer to 1 decimal place.

Answer 1

R=i

Explanation:

R=i×100÷p×t

r=30105×100÷6570×12

r=3010500÷78840

r=38.18