shellhill shellhill

23-02-2019
Mathematics

contestada

I don’t know how to do this problem, and I just need some help on how to do it ... thanks

I dont know how to do this problem and I just need some help on how to do it thanks class=

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OgJeremie OgJeremie

24-02-2019

I: A-P=2150$-2000$=150$.
P=2000$
R=?
T: 10 months/12 months= 5/6 of a year

Formula of interest rate: I=Prt

I=PxRxT
150=2000xRx5/6
150=5000/3xR
9/100=R
0.09=R

The loans simple interest rate is 9% a year.

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