iiamkashh iiamkashh

12-11-2021
Mathematics

contestada

If the simple interest on $4,000 for 5 years is $1,400, then what is the interest rate?

Respuesta :

samimeher1981 samimeher1981

12-11-2021

Answer:

7%

Step-by-step explanation:

5 years= $1,400

1 year= 1,400/5= 280

$280 is ?% of $4,000

(280/4000)*100

so, 7%

Hope this helps!

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