Mr. Miranda borrowed $8,800 for 12 months at simple interest to pay for a new swimming pool. If Mr. Miranda paid the bank a total of $10,287.20, what was the simple interest rate of the loan?
85.5%
1.4%
16.9%
14.5%

Question

07-12-2021
Mathematics

Answered

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Mr. Miranda borrowed $8,800 for 12 months at simple interest to pay for a new swimming pool. If Mr. Miranda paid the bank a total of $10,287.20, what was the simple interest rate of the loan?
85.5%
1.4%
16.9%
14.5%

Sagot :

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