find the interest rate r for an investment of $1200 that earned $66 in interest for one year
2006-10-10 16:19:22 · 5 answers · asked by NABEELiOS 1 in Science & Mathematics ➔ Mathematics
i=prt
t=1
p=1200
i=66
66=1200*r*1
66=1200r
r=66/1200=.055=5.5%
2006-10-10 16:26:39 · answer #1 · answered by yupchagee 7 · 16⤊ 0⤋
Remember the formula- Principle * (interest)^(rate * time)
1200(1 + r)^(1) = 1266
1 + r = 1266/1200
r = 66/1200
2006-10-10 23:23:40 · answer #2 · answered by Skop 2 · 0⤊ 0⤋
x = 66 x 100% ; x =6600/1200; x = 5,5%
2006-10-10 23:55:52 · answer #3 · answered by Freesia 5 · 0⤊ 0⤋
s=prt
t=1
p=1200
s=66
66=1200*r*1
66=1200r
r=66/1200=.055=5.5%
2006-10-11 01:22:29 · answer #4 · answered by sameer 2 · 0⤊ 0⤋
5.5%.
1200x=66
66/1200
2006-10-10 23:22:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋