Math
posted by sarah .
Loan Amount: $15,000
Method of payment: discount basis
Amount of Interest : $650
Term of loan: 1 year
Effective Rate of Interest (to the nearest tenth): %

100(650/15,000) = ?
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Loan Amount: $15,000 Method of payment: discount basis Amount of Interest : $650 Term of loan: 1 year Effective Rate of Interest (to the nearest tenth): I tried to work this out but I got it completely WRONG !! 
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