Fran Borrowed $12,900 for 3 Years

question 39

Short Answer

Fran borrowed $12,900 for 3 years. The simple interest is $1161.00. Find the rate.

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Definitions:

Trade Surplus

A situation in which a country's exports exceed its imports during a specific period of time.

Rate Of Exchange

The worth of one currency when converted into another.

Pound

The currency unit of the United Kingdom, also known as the pound sterling, symbolized by £.

Dollar

A unit of currency used in the United States and other countries, symbolized by $.