Question

Please help!! URGENT!! I don’t understand

Answer 1

Answer: 14%

Explanation:

Our formula is i=prt but we're trying to find the rate (r) so we'll rearrange it to become r=i/pt.

i = $245

p = $7000

t = 3/12= 0.25 years

`r=(245)/((7000)(0.25)) \\r = 0.14`