SOLUTION: What is the interest rate if you pay $12 for interest when you borrow $2000 for a year?
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Question 881756: What is the interest rate if you pay $12 for interest when you borrow $2000 for a year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
What is the interest rate if you pay $12 for interest when you borrow $2000 for a year?
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Ans: 12/2000 = 0.006 = 0.6%
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Cheers,
Stan H.
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