alleryStart learning →The interest is worked out as a certain percent of the principal, and that percent is the:
ARate of exchange
BRank of interest
CRole of exchange
DRate of interest
Answer & Solution
Correct answer: D. Rate of interest
1. Three quantities go into a simple interest calculation.
2. The principal is the sum invested and the time is measured in years.
3. The interest is computed as a certain percent of the principal, called the rate of interest.
4. It is usually expressed as a percent per year.
_Source: OpenStax Elementary Algebra 2e (CC BY 4.0), Ch 3 'Math Models', sections 3.1-3.5_
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