Interest rate...?

find the interest rate r for an investment of $1200 that earned $66 in interest for one year|||i=prt


t=1


p=1200


i=66


66=1200*r*1


66=1200r


r=66/1200=.055=5.5%|||x = 66 x 100% ; x =6600/1200; x = 5,5%|||s=prt


t=1


p=1200


s=66


66=1200*r*1


66=1200r


r=66/1200=.055=5.5%|||5.5%.





1200x=66





66/1200|||Remember the formula- Principle * (interest)^(rate * time)





1200(1 + r)^(1) = 1266


1 + r = 1266/1200


r = 66/1200