If you paid $160 in interest to a loan company for the use of $10000 of or 30 days, what annual simple interest rate did they ch

Question

IRISSAK [1]

3 years ago

7

If you paid $160 in interest to a loan company for the use of $10000 of or 30 days, what annual simple interest rate did they ch

arge?

Mathematics

1 answer:

Arisa [49] · Answer 1 · 2022-06-09T13:59:21+03:00

Answer:A loan company charges $30 interest for a one month loan of $500. Find the annual interest rate they are charging.

Step-by-step explanation:You will earn $160 interest total over the four years. Try it Now 1. A loan company charges $30 interest for a one month loan of $500. Find the annual interest ...