Answer: hope this helps found it online.
Explanation:
Answer:
7.875
Formula for rate is
r =
where i is the interest, 1989 - 1800 = 189
p = 1800, t = (9/12).
r = (189 x 9)/ (1800 x 12)
r = 1701/21600
r = 0.07875 or 7.875%
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