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The simple interest on an investment of $6800 over 27 months is $1530.00. If the annual interest rate is r, find r as a percentage correct to one decimal place.
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The simple interest on an investment of $6800 over 27 months is $1530.00.

If the annual interest rate is r, find r as a percentage correct to one decimal place.

User Peaker
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Answer:

Calculation: First, converting R percent to r a decimal r = R/100 = 3.875%/100 = 0.03875 per year, then, solving our equation

Explanation:

User Tom Castle
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