Posted by
**Bonnie** on
.

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