SOLUTION: Please check my answer
Ms. Jordan has been given a loan of $2500.00 for 1 year. Ifthe interest charged is $275.00, what is the interest rate on the loan?
{R/Year}=SI X 100
A
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Question 47585This question is from textbook Beginning Algebra
: Please check my answer
Ms. Jordan has been given a loan of $2500.00 for 1 year. Ifthe interest charged is $275.00, what is the interest rate on the loan?
{R/Year}=SI X 100
Answer 11%
Is this correct??
Thank You in advance!
This question is from textbook Beginning Algebra
Answer by Nate(3500) (Show Source): You can put this solution on YOUR website!
IPR is the main formula (interest * principle * rate)
I(2500) = 275
I = 275/2500 = 0.11 = 11%
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