delenewilliams1 delenewilliams1

03-01-2015
Mathematics

Answered

With interest of $1,832.00 and a principal of $16,000 for 206 days, use the ordinary interest method to determine the rate.

Verified Answer :

briemodee525 briemodee525

03-01-2015

I = 1832
P = 16000
T = 206/365 years
Rate of interest = [100I] / [PT]
= [1001832] / [16000206/365]
= 20.29% per annum

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caitielittlep2ddz6 caitielittlep2ddz6

24-03-2019

Answer:

20%

Step-by-step explanation:

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