SOLUTION: Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?
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Question 78818: Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?
Answer by 303795(602) (Show Source): You can put this solution on YOUR website!
For a single year
=
=0.11
=11%
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