Asked by Bonnie

The total amount of interest on a loan of $6,000 for 150 days is 210.50.Using the ordinary interest method,what is the rate of interest on this loan?Round answer to the nearest hundredth.

I know the ordinary interest method is 360 days.
My anwser is 8.42%
Could someone check this and let me know if I am correct

14 years ago

Answered by helper

looks right, I got the same answer

I am not a tutor

14 years ago

Answered by Bonnie

Thank-You

14 years ago

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Asked by Bonnie

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