Question Find the rate if a principal of $1,100 earned $1,089 interest in 12 years.

Anand Suthar asked Dec 21, 2023

112,057 views

3 votes

Question
Find the rate if a principal of $1,100 earned $1,089 interest in 12
years.

Anand Suthar asked Dec 21, 2023

2.9k points

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25 votes

Answer:

Explanation:

Intrest = PRT\100

$1089. =. ($1100x12xR)\100

$1089. = 132R

Divide through by 132.

R. =. 8.25%

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