SOLUTION: 2.6 26 Mr. jordan has ben a given of 2,500 for 1 year. If the interest charged is 275, what is the interest rate on the loan?

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Question 40698: 2.6 26

Mr. jordan has ben a given of 2,500 for 1 year. If the interest charged is 275, what is the interest rate on the loan?
Answer by Nate(3500) About Me  (Show Source):
You can put this solution on YOUR website!
I = PRT
275 = 2500*R
0.11 = R or 11%