document.write( "Question 1063253: Suppose you pay back $510 on a $500 loan. You had the loan for 45 days. What was your simple annual interest rate? \n" ); document.write( "
Algebra.Com's Answer #678382 by ankor@dixie-net.com(22740)\"\" \"About 
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Suppose you pay back $510 on a $500 loan.
\n" ); document.write( " You had the loan for 45 days.
\n" ); document.write( " What was your simple annual interest rate?
\n" ); document.write( ":
\n" ); document.write( "You paid $10 in interest
\n" ); document.write( "\"10%2F500\" = .02; 2% for 45 days
\n" ); document.write( "Find the annual rate
\n" ); document.write( "\"365%2F45\" * 2 = 16.2%
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