Questions on Word Problems: Money, Business and Interest answered by real tutors!

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Question 150742: I need help with this problem: Find the interest rate on a loan charging $5,344.80 in simple interest on a principal of 5,100 after 8 years.: I need help with this problem: Find the interest rate on a loan charging $5,344.80 in simple interest on a principal of 5,100 after 8 years.
Answer by elima(1423) About Me  (Show Source):
You can put this solution on YOUR website!
I=PRT
5344.8=5100(8)R
5344.8=40800R
5344.8/(40800)=R
.131=R
:)