Mary Toy borrowed $3,000 from her parents and repaid them $3,120 after 9 months. What simple interest rate (as a percent) did she pay? (Round your answer to two decimal places).
Mary Toy borrowed $3,000 from her parents and repaid them $3,120 after 9 months. What simple interest rate (as a percent) did she pay? (Round your answer to two decimal places).
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Mary Toy borrowed $3,000 from her parents and repaid them $3,120 after 9 months. What simple interest rate (as a percent) did she pay? (Round your answer to two decimal places).
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