The simple interest on an investment of \$8000 for one year is \$360. What is the interest rate?
The simple interest on an investment of \$8000 for one year is \$360. I=Prt, 360=8000*r; r=360/8000; r=0.045 = 4.5%. The interest rate is 4.5%. Thanks for asking Weegy!
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Updated 4/8/2014 10:27:42 PM
Confirmed by jeifunk [4/8/2014 10:27:42 PM]
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