A person collected $700 on a loan of $600 they made 5 years ago. If the person charged simple interest, what was the rate of interest? The interest rate is %. (Type an integer or decimal rounded to the nearest hundredth as needed.)

Rate= 3 1/3%

Or Rate= 3.33%

Step-by-step explanation:

Final amount collected= $700

Initial amount given out= $600

Interest made= Final amount - initial amount

Interest made= $700-$600

Interest made= $100

Type of interest rate = simple

Number of years = 5

PRT/100= interest

R=(100*interest)/(PT)

R= (100*100)/(600*5)

R= 10000/3000

R= 10/3

R= 3 1/3%

Or R= 3.33%

898.1666667

step-by-step explanation:

5389/6 = 898.1666667

$4034.40

the perimeter of the field is the sum of the lengths of the four sides:

47 yd + 158 yd + 47 yd + 158 yd = 410 yd

the cost of 3 ft (1 yd) of fence is 3×$3.28 = $9.84.

so the cost of jake's wood perimeter fance is

(410 yd) × ($9.84 /yd) = $4034.40