izzxizzy izzxizzy

18-12-2018
Mathematics

contestada

If Nelson invests $5,000 for 4 years and earns $600, what is the simple interest rate?

Respuesta :

freshygamergirl freshygamergirl

18-12-2018

Simple interest rate = 3%.

Since the given invested amount = $5000, number of years of investment = 4 years, interest earned = $600. 600 = 5000 × R × 4, 600 = 20000R, Dividing both sides by 20000, we get 0.003 which is 3%.

Answer Link

brayanrobles928 brayanrobles928

18-12-2018

Answer:

3

Step-by-step explanation:

Answer Link

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