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Barry's Dress Shop borrowed $2232.00 to buy material. The loan was paid off 2 months later by a lump-sum payment that included $28.61 of interest.
Barry's Dress Shop borrowed $2232.00 to buy material. The loan was paid off 2 months later by a lump-sum payment that included $28.61 of interest. What was the simple rate of interest at which the money was borrowed? The rate of interest is % (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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