# math

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If a business borrows \$16,000 and repays \$27,000 in 5 years, what is the simple interest rate?
1 %

• math -

I = PRT

11,000 = 16,000 * R * 5

11,000 = 80,000R

11,000/80,000 = R

0.1375 = 13.75% = R

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