SOLUTION: ramon has $4200 to invest for college if ramon invests $4200 for 3 years and earns $630 what was the simple intrest rate?

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Question 950112: ramon has $4200 to invest for college
if ramon invests $4200 for 3 years and earns $630 what was the simple intrest rate?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
630=4200*3*r
630/12600=r
r=0.05=5%