gailphillips3272 gailphillips3272

12-06-2021
Mathematics

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algebra woman got business borrowed 4000 for 2 years amount of interest 184 what simple interest rate was she charged. i=p×r×t 4000=184×r×2

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mathmate mathmate

12-06-2021

Answer:

Step-by-step explanation:

Simple interest rate, r, principal, P, interest, I, time, t

I = Prt

Substitute

t=2

P=4000

I=184

184 = 4000*r*2

r = 184/ (4000*2) = 23/1000 = 2.3%

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