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$500 earn $30 interest in 5 years. Find the interest rate. please show your steps!
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$500 earn $30 interest in 5 years. Find the interest rate. please show your steps!
asked
Oct 2, 2023
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$500 earn $30 interest in 5 years. Find the interest rate.
please show your steps!
Mathematics
high-school
Smally
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Smally
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1
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1.2%
I=p•i•t
i=I/p•t
i=30/500•5
i=0.012=1.2% per year
Corentin Houdayer
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Oct 7, 2023
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Corentin Houdayer
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