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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asked Jul 16, 2021 13.4k views

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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?

Mathematics
middle-school

Troels Arvin asked

by Troels Arvin

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Answer:

The interest rate was 42.5%.

Explanation:

Pitu answered Jul 23, 2021

by Pitu

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