math24 question interest rate

Mathematics
Tutor: None Selected Time limit: 1 Day

Determine the simple interest rate at which  $2400 will grow to $2561 in 7 months.

Dec 9th, 2014

I = (P)(R)(T)

(2561) = (2400)(R)(7/24)

2561= (18800/24)(R)

R = 3.2693

Hope this helps!

Dec 9th, 2014

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