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If the simple interest on 6000 for 3 years is 1,620 then what is the insterest rate
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If the simple interest on 6000 for 3 years is 1,620 then what is the insterest rate

User Timbinous
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1 Answer

6 votes

Answer:

Explanation:

Gather information like your principal loan amount, interest rate and total number of months or years that you'll be paying the loan.

Calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (aka Number of Years in Term) = Interest.

User Jbarreiros
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