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After 5 years the simple interest earned on an investment of $3,000 was $645. Find the interest rate. 4.3% 4.2% 4.4% 4.5%

After 5 years the simple interest earned on an investment of $3,000 was $645. Find the interest rate. 4.3% 4.2% 4.4% 4.5%
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After 5 years the simple interest earned on an investment of $3,000 was $645. Find the interest rate.

4.3%
4.2%
4.4%
4.5%

User Intsco
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8.5k points

1 Answer

6 votes
4.3% , 645 ÷ 5 = 129, 4.3% of 3000 is 129
User Treeden
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