<PRE><B>Question 568281</B>
 If a business borrows $15,000 and repays $21,300 in 4 years, what is the simple interest rate?
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A(t) = P(1+rt)
21300 = 15000(1 + r*4)
1.42 = 1 + 4r
4r = 0.42
r = 0.1050 = 10.5%
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Cheers,
Stan H.
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