Compute the rate for the following loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days.

Question

Do not enter the percent symbol in your answer.

Principal Rate (%) Time Interest

$5,000 % 3 years $1,200

Answer 1

Compute the rate for the following loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days.

Do not enter the percent symbol in your answer.

Principal Rate (%) Time Interest





$5,000 % 3 years $1,200