math
posted by Anonymous .
If a business borrows $16,000 and repays $29,200 in 6 years, what is the simple interest rate?
1 %

I = PRT
13,200 = 16,000 * R * 6
13,200 = 96,000R
13,200/96,000 = R
0.1375 = 13.75% = R
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