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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A. Career Portfolio
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$123
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Which of the following is a true statement?
A
If your credit score is high, you won't have to repay money you owe.

B
You can access your credit report for free once every month.

C
A landlord can access your credit report to decide if you are financially responsible.

D
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Question 2 (1 point)
Who benefits from a low interest rate? (Select the best answer.)
♡
The investor
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Foreign households and foreign firms demand U.S. dollars in exchange for foreign currency for all of the​ following, except A. when currency traders want dollars because they expect that the value of the dollar in the future to be greater than its current value. B. when U.S. firms and households want foreign currencies so that they can buy goods and services produced in those foreign countries. C. when foreign firms and households want dollars so that they can buy goods and services produced in the United States. D. when foreign firms and households want to invest in the United States either through foreign direct investment or through foreign portfolio investment.

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C. Explain what should influence the measures that the Egyptian government should take to
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True
False

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O trade deficit.
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A.
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B.
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C.
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D.
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