document.write( "Question 1176029: What is the simple interest rate on a $1300 investment paying $229.71 interest in 5.7 years?
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document.write( "Round to the nearest tenth of a percent \n" );
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Algebra.Com's Answer #801927 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "Simple interest -- not compound. \n" ); document.write( "The interest earned is the principal, times the (annual) interest rate, times the number of years. \n" ); document.write( "I = prt \n" ); document.write( "In your example the interest is $229.71, the principal is $1300, and the number of years is 5.7; the unknown is the interest rate r: \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Use a calculator.... \n" ); document.write( " \n" ); document.write( " |