SOLUTION: mrs.jordan has been given a loan of $2500.00 for 1 year. If the interest rate charged is $275.00 , what is the interest rate on the loan?

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Question 23265: mrs.jordan has been given a loan of $2500.00 for 1 year. If the interest rate charged is $275.00 , what is the interest rate on the loan?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Divide 275 by 2500 to get 11%
Cheers,
Stan H.