SOLUTION: i borrowed 500.00, then paid back 525.00 in 30 days. what's the interest?

Question 424006: i borrowed 500.00, then paid back 525.00 in 30 days. what's the interest?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
The interest is 25.00. Time is 1/12 of a year.
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The interest rate is 60%.