2007-10-17 17:00:26 · 6 answers · asked by wal_gil50 1 in Science & Mathematics ➔ Mathematics
$120.00
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$960.00
equals 0.125, or 12.5% Yikes!
2007-10-17 17:11:12 · answer #1 · answered by Nurse Susan 7 · 0⤊ 1⤋
I can't make sense of this question. An amount of $960.00 is not an interest rate; it could be an interest amount, or a principal amount. And you have said nothing about the time.
2007-10-17 17:03:55 · answer #2 · answered by Anonymous · 1⤊ 1⤋
120 is 1/8 of 960. The decimal equivalent is 12.5%
2007-10-17 17:03:56 · answer #3 · answered by zealot144 5 · 1⤊ 2⤋
120/960 = 12.5% interest rate.
2007-10-17 17:11:32 · answer #4 · answered by vic 1 · 0⤊ 2⤋
120 / 960 = 12.5%
2007-10-17 17:03:44 · answer #5 · answered by Anonymous · 1⤊ 2⤋
We would need to know the period of time in order to solve this problem.
I = P*R*T
Interest = Principal * rate * time.
Without the time period, we can not solve.
2007-10-17 17:03:27 · answer #6 · answered by ValleyR 7 · 1⤊ 1⤋