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The cost of interest of a $500 loan for 12 months is $21.88. What is the interest rate charged for the loan per year?
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The cost of interest of a $500 loan for 12 months is $21.88. What is the interest rate charged for the loan per year?
asked
Jun 6, 2022
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The cost of interest of a $500 loan for 12 months is $21.88. What is the
interest rate charged for the loan per year?
Mathematics
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Ratata
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Answer:
4.376%
Explanation:
$21.88/$500 x 100= 4.376%
Demaksee
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Jun 12, 2022
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Demaksee
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