If Pablo invests $4200 for three years and earns $630, what is the simple interest rate?

Assuming by simple you mean there is no compound interest:
4200 x Interest rate = 630/3
4200 x Interest rate = 210
Interest rate = 210/4200
Interest rate = 0.05
Interest rate = 5%

Answered by ollieboyne | 2024-06-10

$250 due to a real interest rate of 5 percent ;

Answered by 57930 | 2024-06-14

The simple interest rate is 5%. This was calculated using the formula for simple interest by rearranging it to compute the rate based on the interest earned, principal amount, and time. Thus, the interest rate at which Pablo's investment grows is 5%.
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Answered by ollieboyne | 2024-10-10