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If a business borrows $15,000 and repays $20,700 in 4 years, what is the simple interest rate?

  • math -

    20,700 - 15,000 = 5,700

    5,700 = 15,000 * R * 4

    5,700 = 60,000R

    0.095 = 9.5% = R

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