if pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate

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Seudónimo Seudónimo

02-11-2016
Mathematics

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if pablo invests 4,200 for 3 years and earns $630 what is the simple interest rate

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Dakohta112 Dakohta112 · Answer 1 · 2016-11-02T18:39:16+01:00

Dakohta112 Dakohta112

02-11-2016

Assuming by simple you mean there is no compound interest:

4200 x Interest rate = 630/3

4200 x Interest rate = 210

Interest rate = 210/4200

Interest rate = 0.05

Interest rate = 5%

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