Question

Find the interest rate of:

Principle: $400
Rate: 5%
Time: 1 year

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Answer 1

is the rate per year?

Answer 2

P x R x T if you mean simple rate.

So,

Answer 3

400x.05x 1 ?

Answer 4

Put 5% in a decimal, 0.05 (5 / 100)

400 x 0.05 x 1.

Answer 5

correct, so what would it be?

Answer 6

one sec

Answer 7

20..?

Answer 8

Correct.

Answer 9

ok awesome thanks ;)

Answer 10

No prob.