Respuesta :
I=PRT
1680-1500 = 180 IS INTEREST
180=1500(3)R
180=4500R
DIVIDE BOTH SIDES BY 4500 TO FIND R
R=.04
R=4%
Answer:
the rate of interest on the investment comes out to be 4%.
Step-by-step explanation:
time of investment = 3 years
initial investment(P) = $1,500
Final Amount = $1,680
interest rate of the investment = ?
Amount = P + P R T
1680 = 1500 + 1500 × 3 × R
1680 - 1500 = 1500 × 3 × R
R = 180 / 4500
R = 0.04
R = 4%
hence, the rate of interest on the investment comes out to be 4%.
