$$\begin{array}{l}
\text { Find the missing value. }\
\begin{array} { c | c | c | c }
\text { Principal } & \text { Rate } & \text { Time } & \text { Simple Interest } \
\hline \$ 20,900 & & 4.5 \text { years } & \$ 1881.00
\end{array}
\end{array}$$
A) 1%
B) 2%
C) 2.5%
D) 1.5%

Question

$$\begin{array}{l}
\text { Find the missing value. }\
\begin{array} { c | c | c | c } 
\text { Principal } & \text { Rate } & \text { Time } & \text { Simple Interest } \
\hline \$ 20,900 & & 4.5 \text { years } & \$ 1881.00
\end{array}
\end{array}$$
A) 1%
B) 2%
C) 2.5%
D) 1.5%

Quizplus · Accepted Answer

The formula for simple interest is $ I = P \times R \times T $. Plugging in the values: $ 1881 = 20900 \times R \times 4.5 $. Solving for $ R $, we get $ R = \frac{1881}{20900 \times 4.5} = 0.02 $ or 2%.

A) 1% B) 2% C) 2

A) 1%
B) 2%
C) 2