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frozen [14]
3 years ago
5

Don Glover borrowed $16,000 for 230 days and paid $587.79 in simple interest on the loan. What annual simple interest rate did D

on pay on the loan?
Mathematics
1 answer:
Gennadij [26K]3 years ago
5 0

Answer:

Try this equation

Step-by-step explanation:

If we wish the rate, we can find it by

r = I / Pt

Here we have

r = 587.79/ (16000)(250/365) =

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