234k views
1 vote
He has $4,200 to invest, for college if he invests 4200 for 3 years and year and earns $630 what is the simple interest rate

User Rias
by
7.2k points

1 Answer

5 votes
I=Prt

r=I/Pt

r=630/((4200)(3))
=0.05*100
=5%
the simple interest rate it 5%
User Yuka
by
8.1k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.