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If you borrow $5,400 at $800 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.)
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If you borrow $5,400 at $800 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.)

User Ghassen Sultana
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1 Answer

4 votes
5400/800 = 0,14814 -> 14,81% Interest rate
User Reuben Cummings
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