# 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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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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