A snail travels 10 cm in 4 minutes. At this rate: How long will it take the snail to travel 24 cm? minutes How far does the snai
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Answer:
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Answer:
The rate is 2% per year.
Step-by-step explanation:
<em>It is given that sum to be $1200000.</em>
<em>The interest per year to be received is $24000.</em>
<em>Let the rate of interest be "r".</em>
The amount interest is given by the formula,
Thus the rate of interest is given by 2% per year.