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To start a taco food truck service, a woman borrowed $7,500. If the loan was for 5 years and the amount of interest was $3187.50, what simple interest rate was she charged?​

To start a taco food truck service, a woman borrowed $7,500. If the loan was for 5 years and the amount of interest was $3187.50, what simple interest rate was she charged?​
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To start a taco food truck service, a woman borrowed $7,500. If the loan was for 5 years and the amount of interest was $3187.50, what simple interest rate was she charged?​

User Troels Arvin
by
8.7k points

1 Answer

2 votes

Answer:

The interest rate was 42.5%.

Explanation:

User Pitu
by
8.1k points
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