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&q…

Question

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=2500.00 A=2525.00 T=3 months

Answer 1

2525
1/3 is the correct answer to your question

Answer 2

r=interest rate in %/month.
t=3 months
P=2500
A=2525

Using
A=P(1+rt)
2525=2500(1+3r)
Solve for r:
1+3r=2525/2500=1.01
3r=0.01
r=0.01/3=(1/3)%