ssolis26
ssolis26 ssolis26
  • 02-10-2020
  • Mathematics
contestada

If the simple interest on ​3000 for 2 years is ​$360​, then what is the interest​ rate?

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zack28030
zack28030 zack28030
  • 02-10-2020
The interest rate is 6% 360/300 = .12 for 2 years get rid of half of that .06
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DemonicBrain
DemonicBrain DemonicBrain
  • 02-10-2020
If its $360 in 2 yrs, then it would be $180 in 1 yr, which $180 is 6% of $3000
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