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ampofoeugenia7

The unknown is the interest rate.
The givens are the principal=$4800, time=8.5 years and amount=$8000(to find the interest, subtract the principal from the amount,$8000-$4800=$3200)so interest is $3200
The formula for finding rate is R=I100/PT where R is rate, I is interest and P is principal and T is time.the 100 is there because R is a percentage.
R=$3200*100/$48008.5=7.8%(rounded to nearest tenth)
Therefore the interest rate is about 7.8%

Answer:

Step-by-step explanation

The unknown is the interest rate.

The givens are the principal=$4800, time=8.5 years and amount=$8000(to find the interest, subtract the principal from the amount,$8000-$4800=$3200)so interest is $3200

The formula for finding rate is R=I100/PT where R is rate, I is interest and P is principal and T is time.the 100 is there because R is a percentage.

R=$3200*100/$48008.5=7.8%(rounded to nearest tenth)

Therefore the interest rate is about 7.8%

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