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Mathematics

Answered

If the simple interest on $7000 for 3 years is $1890, then what is the interest rate?

Answer :

Answer:

0.09 or 9%

Step-by-step explanation:

I = Prt

Given:

I = 1890

P = 7000

t = 3

Work:

I = Prt

r = I/(Pt)

r = 1890/(7000 x 3)

r = 1890/21000

r = 0.09

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