Use the simple interest formula to find the missing value. Rates are annual rates. Assume 360 days per year and 30 days per month. p = $6404, r = ?, t = 4 months, i = $202.79
A. r = 10.53%
B. r = 0.10%
C. r = 7.4%
D. r = 9.5%

Question

Use the simple interest formula to find the missing value. Rates are annual rates. Assume 360 days per year and 30 days per month. p = $6404, r = ?, t = 4 months, i = $202.79
	A. r = 10.53% 	
	B. r = 0.10% 	
	C. r = 7.4% 	
	D. r = 9.5%

saifoo.khan · Answer

Do you know the interest formula?

anonymous · Answer

yes

anonymous · Answer

well i need to how how to do this

saifoo.khan · Answer

JUst insert the values in the formula!

anonymous · Answer

o i don't know the formula sorry

anonymous · Answer

what is it

saifoo.khan · Answer

This should help: http://www.virtualnerd.com/images/Tutorial/Alg1_4_14-diagram_thumb-lg.png

anonymous · Answer

thanks but how do i put it in to math

saifoo.khan · Answer

I = prt

202.79 = 6406 * r * (4/12)

anonymous · Answer

i dont get it

saifoo.khan · Answer

i = interest,
p = principal
r = rate
t = time

anonymous · Answer

but how do i do that

saifoo.khan · Answer

The values are given in the question james!

anonymous · Answer

yes but how do i put IPRT in a math problum