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30 November, 01:28

Find the rate. principal $6000 time 12% interest: $120

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Answers (2)
  1. 30 November, 01:35
    0
    The formula to find simple interest is I=prt. Interest = Principle * rate * time in years. Let's substitute the known values:

    120 = (6000) r (12) ... I am assuming the time is 12 years

    simplified: 120 = 7200r

    So then you have to divided both sides by 7200 to isolate r ... and you get about 17 percent.
  2. 30 November, 01:41
    0
    You'll use the formula of I=PRT

    and the question is wrong
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