Find the rate. Round to the nearest tenth of a percent.
-Principal: $35,000 Time: 60 days
Interest: $548
A)9.4%
B)1.6%
C)9.5%
D)16.0%

Name: Find the rate. Round to the nearest tenth of a percent. -Principal: $35,000 Time: 60 days Interest: $548 A)9.4% B)1.6% C)9.5% D)16.0%
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

Interest = Principal x Rate x Time$548 = $35,000 x Rate x 60 daysRate = $548 / ($35,000 x 60 days)Rate = 0.094 or 9.4%

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