If the simple interest on $3000 for 3 years is $720 , then what is the interest rate?

Question

asked Mar 2, 2021 159k views

1 Answer

Richard Pianka · Answer 1 · 2021-03-07T10:59:17+0000

Answer:

8%

Explanation:

Starting Principal: $

3,000.00

Years:

3

Annual Interest Rate:

8

%

Results

Future Value, using...

Simple Interest: $

3,720.00

Annually Compounded Interest: $

3,779.14