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Posted by on Sunday, August 5, 2012 at 11:23pm.

If a business borrows $20,000 and repays $36,200 in 6 years, what is the simple interest rate?

  • math - , Monday, August 6, 2012 at 4:53am

    36200 = 20000(1+6r)
    r = 13 1/3 %

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