Question

a man got 17000in 60month after investing 12000find intrsest​

Answer 1

Answer:R = 0.6944%/month

(R = 8.3328%/year)

Step-by-step explanation: By equation

r = (1/t)(A/P - 1)

r = (1/60)((17000/12000) - 1) = 0.00694444

r = 0.00694444

Converting r decimal to R a percentage

R = 0.00694444 * 100 = 0.6944%/month

Calculating the annual rate

0.6944%/month × 12 months/year = 8.3328%/year.

Ok.

Answer 2

Answer:

8.3%

Step-by-step explanation:

so,the rate of interest is 8.3%