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Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?
Select one:
A.
4.38%
B.
7.75%
C.
3.48%
D.
2.64%
E.
4.52%

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