Question

$6,000 was invested at a simple interest rate. In 15 years, the

account was worth $9,600. What was the interest rate? Show all your
work!

Answer 1

4.2%

Explanation:

S.I=P×R×T

R=I×100/R×T

=6000×100/9600×15

=600000/144000

=4.2%