Larry borrowed $1,000 through a loan shark, two years later he ended up paying $1,500 to settle his debt. What was the interest rate on his loan?
Larry borrowed $1,000 through a loan shark, two years later he ended up paying $1,500 to settle his debt. What was the interest rate on his loan?
Chapter10: Deduct Ions And Losses: Certain Itemized Deduct Ions
Section: Chapter Questions
Problem 31P
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Larry borrowed $1,000 through a loan shark, two years later he ended up
paying $1,500 to settle his debt. What was the interest rate on his loan?
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