Question
a 150-day loan for $2,500 has interest of $57. Find the rate to the nearest tenth of a percent.
a. 3.2%
b. 24.4%
c. 10.4%
d. 5.5%
Please walk me through on how you got the answer. I have tried, and can not figure it out.
a. 3.2%
b. 24.4%
c. 10.4%
d. 5.5%
Please walk me through on how you got the answer. I have tried, and can not figure it out.
Answers
Ms. Sue
I = PRT
57 = 2,500 * R * 0.4167
57 = 1041.665R
0.0547 = 5.5% = R
57 = 2,500 * R * 0.4167
57 = 1041.665R
0.0547 = 5.5% = R