1 Suppose you purchase $3100 worth of flooring. At the end of 3 months, the total interest on the unpaid balance is $185.93. Treating the 3 months as equivalent simple interest rate for this problem to the nearest tenth of a percent). The simple interest rate which corresponds to a total interest charge of $185.93 after 3 months is % (Round to one decimal place as needed.) 4 of a year, find the