SOLUTION: Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan. What annual simple interest rate did Don paid on the loan? (Round your answer to the neare

Question 1155528: Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan. What annual simple interest rate did Don paid on the loan? (Round your answer to the nearest hundredth of a percent)
Found 2 solutions by mananth, MathTherapy:
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!

Simple Interest = P * R *T

p= 18000
R=?
T = 210/365 years
SI =702.80
702.8 = 18000 *R* 0.58
R= 702.80/(18000*0.58)
R= 0.067 *100 = 6.7 %
Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!
Don Glover borrowed $18,000 for 210 days and paid $702.80 in simple interest on the loan. What annual simple interest rate did Don paid on the loan? (Round your answer to the nearest hundredth of a percent)

PTR = SI

50(210) * R = 702.8
R, or
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