Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A loan of $2520 can be repaid in 200 days by paying the principal sum borrowed plus $70 interest. What was the rate of interest
A loan of
$2520
can be repaid in
200
days by paying the principal sum borrowed plus
$70
interest. What was the rate of interest charged?
The interest rate is
nothing%.
(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
