ssolis26 ssolis26

02-10-2020
Mathematics

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If the simple interest on 3000 for 2 years is $360, then what is the interest rate?

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zack28030 zack28030

02-10-2020

The interest rate is 6% 360/300 = .12 for 2 years get rid of half of that .06

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DemonicBrain DemonicBrain

02-10-2020

If its $360 in 2 yrs, then it would be $180 in 1 yr, which $180 is 6% of $3000

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