Question

The interest for the month of June on Roger Racer's car loan was $100. Using the ordinary interest method, and with a principal balance of $10,000, what is the interest rate?

Answer 1

I = Prt

Answer 2

Where I is the interest, P is the principal amount, r is the rate, t is the time.
Sub in your givens.

Answer 3

i dont understand? :/

Answer 4

What do you not understand?

Answer 5

the whole thing >.<

Answer 6

Do you have notes or a text book?
If not, try Khan's ACademy.

Answer 7

The simple interest formula is: I = Prt

Substitute in your givens, solve for your rate. This is grade school algebra.

Answer 8

Unless she means annuities... What grade are you?

Answer 9

That's clearly not an annuity -.-

Answer 10

freshman in college >.< i suck at math

Answer 11

It even says using the ordinary interest method.

Answer 12

What information do you have?

Answer 13

got it

Answer 14

i= interest ,p= principle balance , r= rate and t= time
by using formula
i=prt
100$=10000$ * r* 1year
r=0.01%

Answer 15

thank u(:

Answer 16

np thats what i do:)

Answer 17

:D