Respuesta :

tejanoajet
Important variables to know:

I = interest
P = principal (investment)
R = simple interest rate
T = years

Formula: I = PRT

What information do we have?
I = $240
P = 2000
T = 4 years
R = ?

Plug into formula:
240 = 2000(R)4
Multiply right side 2000*4

240 = 8000R
Divide both sides by 8000.

R = 240/8000
R = .03

The simple annual interest rate was .03 or 3%.

Answer:

its 3% or 0.3

Step-by-step explanation:


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