Question 450688
you borrow 5300 from a friend and promise to pay back 7100 in two years. what simple interest rate will you pay?
-----
 A(t) = P(1+rt)
7100 = 5300(1+r*2)
1.3396 = 1 + 2r
2r = 0.3396
---
rate = 0.1698 = 16.98%

==============
Cheers,
Stan H.
==============