Use I = Prt for simple interest to find the indicated quantity:
-P = $13,500; t = 4 months; I = $517.50. Find r.
A) 7.7%
B) 3.8%
C) 11.5%
D) 11.7%
Correct Answer:
Verified
Q3: Convert the given interest rate to decimal
Q4: Convert the given interest rate to decimal
Q5: Make the indicated conversion. Assume a 360-day
Q6: Make the indicated conversion. Assume a 360-day
Q7: Use I = Prt for simple interest
Q9: Use the formula A = P(1 +
Q10: Use the formula A = P(1 +
Q11: Use the formula A = P(1 +
Q12: Solve the problem. Round dollar amounts to
Q13: The principal $15,400 is accumulated with simple
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents