Register

If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan? Rate = ________%

If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan? Rate = ________%
72.2k views
0 votes
If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan?

Rate = ________%

User Agweber
by
9.3k points

1 Answer

0 votes

The annual interest rate for a simple interest loan would be 16%.

User Oscarina
by
7.8k points
← Prev Question Next Question →

Related questions

User Matt Fichman
asked May 25, 2024 77.3k views
A staggering ________% of the heat we are putting into our atmosphere is being soaked up by our oceans.
Matt Fichman asked May 25, 2024
by Matt Fichman
8.0k points
1 answer
1 vote
77.3k views
User Solivan
asked Dec 24, 2024 225k views
The albedo of snow is approximately _______%, while the albedo for the whole Earth is approximately ________%.
Solivan asked Dec 24, 2024
by Solivan
8.8k points
1 answer
5 votes
225k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!