You borrow $6000 from a loan shark named Johnny Hammerhead. If you will owe $7200 in 18 months, what would be the simple interest rate? Note: Keep your answer as a decimal.
You borrow $6000 from a loan shark named Johnny Hammerhead. If you will owe $7200 in 18 months, what would be the simple interest rate? Note: Keep your answer as a decimal.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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You borrow $6000 from a loan shark named Johnny Hammerhead. If you will owe $7200 in 18 months, what would be the simple interest rate?
Note: Keep your answer as a decimal.
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