Emmysilver48 Emmysilver48

16-02-2022
Mathematics

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If 2500 amounted to 3500 in 4 years as simple interest .find the rates at wish the interest was charged

Respuesta :

16-02-2022

Answer:

The interest rate per year is 0.1

Step-by-step explanation:

The equation is A = P(1+rt)

Substitute the numbers

3500 = 2500 (1+4r)

solve for r:

[tex]3500/2500 = 1+4r[/tex]

[tex]1.4-1 = 4r[/tex]

[tex]0.4 /4 = r[/tex]

[tex]r = 0.1[/tex]

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