Question

The simple interest on an investment of $8000 for one year is $360.

What is the interest rate?









A.
0.045%







B.
0.45%







C.
4.5%







D.
45%

Answer 1

help!!!!!

Answer 2

i = prt;
where i = interest, p = principal (total money invested/borrowed), r = rate, t = time, so
360 = 8000(1)r
360 = 8000r
0.045 = r
Convert that into a percentage:
Rate = 4.5%
So the answer should be C.