Question

Help me ASAP HELP ME ASAP HELP ME ASAP

Answer 1

9514 1404 393

Answer:

9%

Explanation:

The interest earned is ...

I = Prt . . . . . principal P at annual rate r for t years

Solving for r, we find ...

r = I/(Pt) = $540/($3000×2) = 0.09 = 9%

The interest rate on Beka's loan is 9%.