Answer:
He multiplied wrong
Step-by-step explanation:
What is the question?
16
:)
26%
The amount due is ...
A = P(1 +rt)
2500 = 2350(1 +r(90/360)) . . . . using ordinary interest
2500/2350 -1 = r/4
r = 12/47 ≈ 25.53% ≈ 26%
The rate of the loan is about 26%.
The 2nd option.