SOLUTION: If you borrow $500 from a credit union at 10% annual interest and $300 from a bank at 15% annual interest, what is the effective annual interest rate (that is, what single rate of
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: If you borrow $500 from a credit union at 10% annual interest and $300 from a bank at 15% annual interest, what is the effective annual interest rate (that is, what single rate of
Log On
Question 962288: If you borrow $500 from a credit union at 10% annual interest and $300 from a bank at 15% annual interest, what is the effective annual interest rate (that is, what single rate of interest on $800 would result in the same total amount of interest) Answer by Theo(13342) (Show Source):
