matthewsmoczynski matthewsmoczynski

27-02-2017
Mathematics

Answered

The simple interest on an investment of $8000 for one year is $360.

What is the interest rate need help asap???

Verified Answer :

rarrininger rarrininger

10-03-2017

I = PRT
$360 = $8000 x R X 1
$360 = $8000 X R
$360/$8000 X R /$8000
0.045 = R
R= 0.045 * 100
R = 4.5%

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