SOLUTION: determine the annual simple interest rate you will earn if you pay $4,000 for a simple interest note that is worth $6,800 in 39 months.

SOLUTION: determine the annual simple interest rate you will earn if you pay $4,000 for a simple interest note that is worth $6,800 in 39 months.

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Question 632943: determine the annual simple interest rate you will earn if you pay $4,000 for a simple interest note that is worth $6,800 in 39 months.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
6800-4000=2800
2800/4000=0.7
(0.7/39)(12)=21.5=0.215%
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