gonzalezkassandra829 gonzalezkassandra829

19-09-2020
Mathematics

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P= $2000.00 A= $2160.00 t= 2 years
The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r

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lifelongknowledge62 lifelongknowledge62

19-09-2020

Answer:

interest = Amount-Principal= 2160-2000=160

Rate = Interest*100/(P*T)= 160*100/(2000*2)=4%

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