Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If $3,600 in simple interest was earned through investing investment of $15,000 at 3% over 2 years. $24,000 over 5 years, what would be the

If $3,600 in simple interest was earned through investing investment of $15,000 at 3% over 2 years. $24,000 over 5 years, what would be the interest rate? Formula: I=PRT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra 2

Authors: Edward B. Burger, Juli K. Dixon, Steven J. Leinwand, Timothy D. Kanold

1st Edition

0544385918, 978-0544385917

More Books

Students also viewed these Mathematics questions

Question

Write an elaborate note on marketing environment.

Answered: 1 week ago