Question:
Which interest rate is missing from Renee’s table?
Answer:
Principal- $750
Interest Rate- $00.5
Time- 11 yrs. (Years)
Interest- $412.50
Explanation:
To calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. ...
I = Interest amount paid in a specific time period (month, year etc.)
P = Principle amount (the money before interest)
t = Time period involved.
r = Interest rate in decimal.
Therefore we get an answer of $00.5
