Question

The formula for an amount in an account with simple interest is A = P(1 + rt). Find r, if A = 384, P = 300, and t = 4.
Answer

r = 0.07

r = 0.035

r = 0.7

r = 0.35

Answer 1

@ktnguyen1

Answer 2

384/3000=1+4r
or 4r=384/300 -1
or r=84/(4*300)
or r=84/1200=0.07