Respuesta :

Solution:

Given;

I = $2,484, P = $4.600, and T = 3 years.

Where the rate r, is;

[tex]r=\frac{100I}{PT}[/tex]

Thus;

[tex]\begin{gathered} r=\frac{100\times2484}{4600\times3} \\ \\ r=18 \end{gathered}[/tex]

Thus, the rate is 18%

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