Posted by **Anonymous** on Monday, August 20, 2012 at 10:19pm.

If a business borrows $16,000 and repays $27,000 in 5 years, what is the simple interest rate?

1 %

- math -
**Ms. Sue**, Monday, August 20, 2012 at 10:39pm
I = PRT

11,000 = 16,000 * R * 5

11,000 = 80,000R

11,000/80,000 = R

0.1375 = 13.75% = R

## Answer This Question

## Related Questions

- math - If a business borrows $15,000 and repays $20,700 in 4 years, what is the ...
- math - If a business borrows $16,000 and repays $29,200 in 6 years, what is the ...
- math - If a business borrows $16,000 and repays $29,200 in 6 years, what is the ...
- math - If a business borrows $20,000 and repays $36,200 in 6 years, what is the ...
- math - if a business borrows $16,000 and repays $25,800 in 5 years, what is the ...
- ALGEBRA - If a business borrows $18,000 and repays $24,300 in 4 years, what is ...
- strayer's - If a business borrows $20,000 and repays $30,800 in 4 years, what is...
- Math - You borrow $2,000 for a period of 4 years. You are charged simple ...
- MATHS - A woman borrows 100000 euro to improve her house. she borrows the money ...
- Business Analysis - Barney Casey borrowed $40,000 from his parents for 2 years. ...

More Related Questions