March 28, 2017

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The total amount of interest on a loan of $6,000 for 150 days is 210.50.Using the ordinary interest method,what is the rate of interest on this loan?Round answer to the nearest hundredth.

I know the ordinary interest method is 360 days.
My anwser is 8.42%
Could someone check this and let me know if I am correct

  • math - ,

    looks right, I got the same answer

    I am not a tutor

  • math - ,


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