itachiuchihabrothero itachiuchihabrothero

21-06-2021
Mathematics

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At what rate percent per annum, will $4000 yield an interest of $780 in 18 months (simple interest)?

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drmallery drmallery

21-06-2021

Answer:

13%

Step-by-step explanation:

780 interest/18 months=43.33 interest/month

43.33x12=520 interest/year

principal x interest rate = interest per year

4000 x interest rate =520

interest rate =520/4000

interest rate =.13 or 13%

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