Answer the following question.You borrow $3000 from a friend and promise to payback $3270 in 1 years. What simple interest rate willyou pay?9.9%18%9%0.9%

Formula for simple interest (SI) is: SI=P×r×t100 P: initial amount r: rate of interest (as percent)…

Answered: Answer the following question. You…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Answer the following question. You borrow $3000 from a friend and promise to pay back $3270 in 1 years. What simple interest rate will you pay? O 9.9% 18% 9% 0.9%