SOLUTION: Can someone please help me with this problem:
Find the actual interest rate paid, to the nearest tenth, on the simple discount note.
$27,000; discount rate 7%; length of loa
Algebra.Com
Question 203571: Can someone please help me with this problem:
Find the actual interest rate paid, to the nearest tenth, on the simple discount note.
$27,000; discount rate 7%; length of loan 3 months
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
27000(.07)(.25)=472.5
472.5/27000=1.8%
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