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Concept explainers
To find: Simple interest rate.
![Check Mark](/static/check-mark.png)
Answer to Problem 5GP
Simple interest rate
Explanation of Solution
Given information:
Principal amount
Time
She made a payment of
Concept:
Where
Calculation:
From given information
Principal amount
Time
She made a payment of
We know
Using that
We can say that
So, she made a payment of
Total amount she paid
Simple interest
On substituting values in above mentioned concept
We get
We know
Therefore,
To nearest cent, Simple interest rate
Chapter 6 Solutions
Glencoe Math Accelerated, Student Edition
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