document.write( "Question 1148486: A man borrowed $950. Six months later, he repaid the loan (principal and interest) with $1150. What simple interest rate did he pay? (Round your final answer to two decimal places.)
\n" ); document.write( "
\n" ); document.write( "

Algebra.Com's Answer #769842 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
\"+I+=+P%2Ar%2At+\"
\n" ); document.write( "\"+P+%2B+I+=+1150+\"
\n" ); document.write( "--------------------------
\n" ); document.write( "\"+950+%2B+I+=+1150+\"
\n" ); document.write( "\"+I+=+1150+-+950+\"
\n" ); document.write( "\"+I+=+200+\"
\n" ); document.write( "--------------------------
\n" ); document.write( "\"+I+=+P%2Ar%2At+\"
\n" ); document.write( "\"+200+=+950%2Ar%2A%281%2F2%29+\"
\n" ); document.write( "I assume it's annual interest, so I used \"+t+=+1%2F2+\"
\n" ); document.write( "which is 6 months
\n" ); document.write( "\"+400+=+950r+\"
\n" ); document.write( "\"+r+=+.4211+\"
\n" ); document.write( "42.11%
\n" ); document.write( "--------------------
\n" ); document.write( "Get a 2nd opinion on this\r
\n" ); document.write( "\n" ); document.write( "
\n" ); document.write( "
\n" );