On this dons lase year you borrownd

$7,450

. You rave to repay the loin prinople plus al of the intereat four years fom batey The parmert that is requed at that fme is

$14,426

. Whe is the inferest rale on this ioan?\ a

1336%

\ b.

193%

\ a 1056\

1=4

an

On this date last year you borrowed $7,450 You have to repay the loan prinople plus all of the interest four years from today The payment that is required at that time is $11,426 What is the interest rate on this loan? Oa 13.34% b. 893% Qe 7.67% Od 1067% O 11.2%