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If the simple interest on $6,000 for 3 years is $1,260, then what is the interest rate?
The rate is %
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Revieve rrecs

Respuesta :

debmc7
I = PRT where I= interest, P = principal (money invested), R = interest rate, T = time in years

1260 = (6000)(R)(3)
1260 = 18000R
R = 0.07, or 7%

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