Respuesta :

semsee45

Answer:

8%

Step-by-step explanation:

Simple Interest Formula

I = Prt

where:

  • I = interest accrued
  • P = principal amount invested
  • r = interest rate (in decimal form)
  • t = time (in years)

Given:

  • I = $8,466
  • P = $24,900
  • t = 4.25 years

Substitute the given values into the formula and solve for r:

[tex]\implies \sf I = Prt[/tex]

[tex]\implies \sf 8466=24900r(4.25)[/tex]

[tex]\implies \sf 8466=105825r[/tex]

[tex]\implies \sf r=\dfrac{8466}{105825}[/tex]

[tex]\implies \sf r = 0.08[/tex]

Convert the interest rate to a percentage by multiplying by 100:

[tex]\implies \sf r = 0.08 \times 100 = 8\%[/tex]

Therefore, the interest rate is 8%.

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