hmur9796 hmur9796
  • 10-11-2021
  • Mathematics
contestada

If the simple interest on ​$1000 for 2 years is ​$​100, then what is the interest​ rate?

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jadnessofficial
jadnessofficial jadnessofficial
  • 10-11-2021

Answer:

R = 450%/year

Equation:

r = (1/t)(A/P - 1)

Converting r decimal to R a percentage

R = 4.5 * 100 = 450%/year

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tjaboagye tjaboagye
  • 10-11-2021
Jenerucshshhdhdhshshsdhhsbnjd
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