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Solved Investment Word Problem: Finding the Interest Rate for a Time Period In Days or Months
See Also: Find Interest for a Given Time Period
See Also: Find Interest Rate for Time Period in Days or Months
See Also: Find Balance After a Given Time

**What You Enter**
Determine the yearly rate of interest if $2000 is borrowed for eight months with interest of $120.

**What You Ge**t
Let P = Principle Let R = Rate Let T = Time Let I = Interest Given: P = $2000 Given: I = $120 Given: T = 8 MONTHS Find: R 8 8 months = ---- = (2/3) years 12 Interest = Principle * Rate * Time I = PRT R = I/PT 120 R = -------------- = 0.09 2000 * (2/3) R = 9%

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Algebra Word Problem Solver

Solves Basic Math, PreAlgebra, and Algebra Word Problems Step-by-Step

Solved Investment Word Problem: Finding the Interest Rate for a Time Period In Days or Months See Also: Find Interest for a Given Time Period See Also: Find Interest Rate for Time Period in Days or Months See Also: Find Balance After a Given Time

Solved Investment Word Problem: Finding the Interest Rate for a Time Period In Days or Months
See Also: Find Interest for a Given Time Period
See Also: Find Interest Rate for Time Period in Days or Months
See Also: Find Balance After a Given Time