Math

Ms. Jordan has been given a loan of $2,500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?

9.09 is this right?

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  3. 👁 39
  1. rate = interest/(principal*time)
    = 275/2500
    = .11

    so 11%

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    posted by Reiny
  2. No. It's not right. Divide 2500 by 275 and convert your answer to a percent.

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