Answer:
The rate was 0.095, or 9.5%
Step-by-step explanation:
We'll assume that this situation involves simple interest, for which the formula is
i = p*r*t.
Then:
$969 = $1275*r*8.
Dividing both sides by [$1275*8], we get:
$969
-------------- = 0.095
$1275*8
The rate was 0.095, or 9.5%
