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OpenStudy (anonymous):
If the simple interest on $6000 for 5 years is $2100, then what is the rate?
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OpenStudy (anonymous):
y=yo e^(kt) y=6000+2100 yo=6000 t: time k rate
OpenStudy (anonymous):
Did you figure it out? I have a slightly more simple method
OpenStudy (anonymous):
No, please help.
OpenStudy (anonymous):
Okay. Well I would divide both by 5, that way you can see what interest is earned annually. So 6000/5=1200 and 2100/5=420. So now we know that 420 is 35% of 6000.
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