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

## Answer this Question

## Related Questions

- Business math - Compute the rate for the following loan. Round your answer to ...
- Business Math - . Compute the rate for the following loan. Round your answer to...
- math - Compute the rate for the following loan. Round answers to the nearest ...
- Business Math - Compute the simple interest. Assume 1 month to be of a year. ...
- business Math - You were offered the opportunity to purchase either a simple ...
- math - Using the formula, compute the true annual interest rate. Loan amount = $...
- algebra - The principal P is borrowed and the loan's future value, A, at time t ...
- finance - The banks offers a rate of 8 1/4 percent with a 20percentcompensating ...
- math - The Sandersons are planning to refinance their home. The outstanding ...
- math - The Sandersons are planning to refinance their home. The outstanding ...