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Find the interest rate. Interest: $24 Principal: $400 Time:2 years
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4 votes
Find the interest rate.
Interest: $24
Principal: $400
Time:2 years

User AMendis
by
7.6k points

1 Answer

3 votes
Interest= Principal x Rate x Time (in yrs)
24=400 x R x 2
24=800 x R
R=24/800
R=.03
R= 3 %

Hope this helps :)
User LightCZ
by
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