The maturity value of a 3-month loan of $4000 is $4085. What is the simple interest rate?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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The maturity value of a 3-month loan of $4000 is $4085. What is the simple interest rate?

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ISBN:
9781938168383
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