Answer:
3.8%
Step-by-step explanation:
Simple interest formula is I=P*R*T
where:
I=interest
P=principal
R=rate
T=time.
So let's plug in our information we are given:
I=855
P=3750
T=6
R=?.
The equation becomes 855=3750*R*6.
Multiplication is commutative so we could write this as 3750*6*R=855.
After the multiplication of 3750 and 6 we obtain 22500*R=855.
Now we just divide both sides by 22500. This will give us:
R=855/22500 which when entered into the calculator as 855 division sign 22500 gives us 0.038 or 3.8%.
