Posted by Anonymous on Wednesday, September 18, 2013 at 4:42pm.
Compute the rate for the following loan. Round your answer to the nearest tenth of a percent.
Principal
Rate (%)
Time
Interest
$50,000
9 months
$4,500

Business Math  Ms. Sue, Wednesday, September 18, 2013 at 4:48pm
I = PRT
4,500 = 50,000 * R * 0.75
4,500 = 37,500R
4,500 / 37,500 = R
0.12 = 12% = R
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