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If the simple interest on $1,000 for 3 years is $240 , then what is the interest rate? The rate is nothing %.

If the simple interest on $1,000 for 3 years is $240 , then what is the interest rate? The rate is nothing %.
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11 votes
If the simple interest on $1,000 for 3 years is $240 , then what is the interest rate? The rate is nothing %.

User JoeyJubb
by
7.8k points

2 Answers

13 votes

Answer:

the answer is 8

Explanation:

no prob

User Peter T Bosse II
by
8.8k points
11 votes

Answer:

0.0067/ month interest rate and yearly is 0.08%

User Oliver Blue
by
9.1k points
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