Question 1111060
Using simple interest formula:
{{{ I = P*r*t }}}
{{{ I = 13000 }}}
{{{ P = 13000 }}}
{{{ t = 6.5 }}}
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{{{ 13000 = 13000*r*6.5 }}}
{{{ 1 = 6.5r }}}
{{{ r = 1/6.5 }}}
{{{ r = .1538 }}}
15.38% interest rate