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The simple interest on an investment of $8000 for one year is $360. What is the interest rate? A. 0.045% B. 0.45% C. 4.5% D. 45%
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Mar 1, 2019
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The simple interest on an investment of $8000 for one year is $360. What is the interest rate? A. 0.045% B. 0.45% C. 4.5% D. 45%
Mathematics
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Stuart Campbell
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Answer:
the answer is b 0.45 i got it right on the test
Explanation:
Mawia HL
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Mar 2, 2019
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Mawia HL
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The formula for simple interest is i = prt. Here, p=$8000, r=?, and t=1 year.
Thus, $360 = simple interest = $8000 (r) (1), and
r = $360
---------- = 0.045, or 4.5%
$8000
IAhmed
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Mar 7, 2019
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IAhmed
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