Find the rate. Assume a 360-day year. Principal Time (Days) Interest 2340 The interest rate is \( \square \% \). (Round to the nearest tenth.)

To find the interest rate, we can use the formula for simple interest, which is \( I = P \times r \times t \) where \( I \) is interest, \( P \) is the principal, \( r \) is the rate, and \( t \) is the time in years. In this case, the time in years is \( \frac{2340}{360} \). To solve for \( r \), rearranging the formula gives us \( r = \frac{I}{P \times t} \). You'll need the interest amount (I) for the calculation. Once you have that, plug in the values. You can check online for calculators that can assist with converting days into years for simple interest problems, making it easier and quicker to find your rate. Remember, rounding to the nearest tenth can often simplify your final result and prevent any misinterpretation of the data!