loan of ​$1,000 was repaid at the end of 12 months with a check for ​$1,015. What annual rate of interest was​ charged? The annual rate of interest was charged at ?% Round to two decimal places as​ needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter6: Ratio, Proportion, And Probability
Section6.2: Writing And Solving Problems
Problem 9C
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A loan of ​$1,000 was repaid at the end of 12 months with a check for ​$1,015. What annual rate of interest was​ charged?

The annual rate of interest was charged at ?%   Round to two decimal places as​ needed.)

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