Answer:
Step-by-step explanation:
r = 35 / ( 3200 × 12 ) = 0.00091146
r = 0.00091146
converting r decimal to a percentage
R = 0.00091146 * 100 = 0.0911%/year
The interest rate required solve for the simple interest of $ 35.00
from a principal of $ 3,200.00
over 12 years is 0.0911% per year.
