What is the rate if a principal of 11000 earned $1815 interest in 3 years.

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.9: Modeling With Equations
Problem 2E: In the formula I=prt for simple interest, P stands for __________, r for _________, and t...
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What is the rate if a principal of 11000 earned $1815 interest in 3 years.
a) 5.5%
c) 5.6%
b) 5.7%
d) 5.4%
Transcribed Image Text:What is the rate if a principal of 11000 earned $1815 interest in 3 years. a) 5.5% c) 5.6% b) 5.7% d) 5.4%
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