A loan of $990 was repaid at the end of 18 months with a check for $1,005. What annual rate of interest was charged? The annual rate of interest was charged at %. (Round to two decimal places as needed.)
A loan of $990 was repaid at the end of 18 months with a check for $1,005. What annual rate of interest was charged? The annual rate of interest was charged at %. (Round to two decimal places as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.9: Modeling With Equations
Problem 2E: In the formula I=prt for simple interest, P stands for __________, r for _________, and t...
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