0

# determine the simple interest rate at which \$2400 will grow to \$2590 in 10 month?

Updated: 9/27/2023

Alexandra González

Lvl 2
2y ago

2590/2400 gives us 1.079166666666667, or a roughly 8% increase in that time.

If we want an 8% increase in 10 months with a simple (non-compounding) interest rate, then it must rise by 8/10 = 0.8% per month.

Michael Scalise

Lvl 12
2y ago

Earn +20 pts
Q: Determine the simple interest rate at which \$2400 will grow to \$2590 in 10 month?
Submit
Still have questions?
Related questions

### What is the simple interest of 2400 at 12.5 percent for 4 years?

2400*12.5/100*4 = 1200

\$2400

### How many months will it take at 8 percent simple interest for 200 to grow to 2400?

At 8% per year, it would take 138 years, so that is 1656 months. If it was 8% per month, it would be 138 months.

### Thomas charged 2400 on his credit card to buy furniture The interest rate charged by the credit card company is 24.9 percent after one month the minimum payment on the debt is 50 How much will he?

2400 x .249 % is 597.6.

### How many gal are in 2400 qts?

4 quarts = 1 gallon so 2400 quarts = 2400/4 = 600 gallons. Simple!

### How many liters are in 2400 millimeters?

1000 mL = 1 L so 2400 mL = 2.4 L. Simple!

### Antarctia averages 2400 meters in elevation what is the average elevation of Antarctica in kilometers?

1000 metres = 1 kilometre then 2400 m = 2400/1000 = 2.4 km. Simple!

### Does it make a difference if you pay extra payments on a mortgage monthly or yearly?

Yes, because the earlier you make extra payments the less interest you pay. So if you pay \$200/month extra each month this year, that is better than paying \$2400 at the end of the year.

### How many centimeter in 24 meter?

1 metre = 100 centimetres so 24 m = 2400 cm. Simple!

2400

### What is the percent increase of 2400 to 2700?

2700-2400/2400= 300/2400=.125 12.5%

2400