SOLUTION: Determining Simple Interest P=$2000, A=2150, T=1 year Determine the loan's simple iterest rate "r" to the nearest tenth of a percent.

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Question 465501: Determining Simple Interest
P=$2000, A=2150, T=1 year
Determine the loan's simple iterest rate "r" to the nearest tenth of a percent.

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
r=i/Pt
r=150/2000*1
r=0.075=7.5%