If the simple interest on $6,000 for 10 years is $5,400, then what is the interest rate?

asked Nov 13, 2022 169k views

2 votes

by Margi

4.1k points

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4 votes

Answer:

Explanation:

p*r*t = Interest

$6000*x*10 years = $5400

interest ÷ time ÷ principal = rate

5400 ÷ 10 ÷ 6000 = 0.09

0.09 = 9%

Alex Moldovan answered Nov 18, 2022

3.8k points

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