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Quiz: Chapter 3 Revie This Question: 1 pt 16 of 23 (10 complete) This Quiz: 23 pt The principal P is borrowed and the loan's

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Quiz: Chapter 3 Revie This Question: 1 pt 16 of 23 (10 complete) This Quiz: 23 pt The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P -$4900.00, A $5065.38, t-9 months 96 (Round to the nearest tenth of a percent )

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