Question and answer
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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Expert answered|debnjerry|Points 58367|
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Asked 4/8/2014 2:14:39 PM
Updated 4/8/2014 10:27:42 PM
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This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [4/8/2014 10:27:42 PM]
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