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If the simple If the simple interest on $6000 for 9 years is $2700 and what is the interest rate.
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4 votes
If the simple If the simple interest on $6000 for 9 years is $2700 and what is the interest rate.

User Fahmiduldul
by
4.0k points

2 Answers

4 votes

Answer:

5%

Explanation:

2700 interest/9 years = 300 interest per year

principal x interest rate = interest per year

6000 x interest rate=300

interest rate=300/6000

interest rate = .05 or 5%

User Dushyant Bangal
by
5.1k points
7 votes

Answer: 600

Explanation:

User Arbie Samong
by
5.4k points
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