The total amount of simple interest earned from $6000 invested for 9 months and $4000 invested for

Question:

The total amount of simple interest earned from $6000 invested for 9 months and $4000 invested for 15 months, both at the same interest rate, was $570. Calculate the annual rate of interest.

AppendixLO1

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

Question Posted: