<PRE><B>Question 176105</B>
Interest(I)=Principal(P)*Rate(R)*Time(T) or I=PRT; R=I/PT
The interest that accrued =$5624-$95=$5529

$5529=$95*R*(1/4)  multiply each side by 4
$22116=$95R  divide each side by $95
R=232.8 in order to convert this to a percentage, we must multiply by 100, so
R(%)=23280%

CK
5529=95*232.8*(1/4)
22116=22116


Does this help?---ptaylor

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