What was the interest rate if your balance on an investment of $357 at the end of six years is $1,128.36?

Answer: 36%

Explanation:

The formula for simple interest is:

= (Principal × Rate × Time) / 100

Here, the principal = $357

Time = 6 years

Interest = $1,128.36 - $357 = $771.36

To calculate the rate goes thus:

Interest = PRT / 100

771.36 = (357 × R × 6) / 100

771.36 = 2142R / 100

Cross multiply

771.36 × 100 = 2142R

77136 = 2142R

R = 77136 / 2142

R = 36.01

Rate = 36%

Therefore, the interest rate is 36%

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Question 2 (1 point)
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♡
The investor
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O trade deficit.
O positive or favorable balance of payments.
O negative or unfavorable balance of payments.

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Your market value is determined by what you bring to the job.

True
False

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A.
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B.
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C.
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D.
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A
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B
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C
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D
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