SOLUTION: Business and finance. Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?

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Question 86347: Business and finance. Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Answer by checkley75(3666) About Me  (Show Source):
You can put this solution on YOUR website!
275/2500=.11 or 11% interest.