A loan of $880 can be repaid in 15 months by paying the principal sum borrowed plus

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A loan of $880 can be repaid in 15 months by paying the principal sum borrowed plus $104.50 interest. What was the rate of interest charged?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:39 AM

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A loan of $880 can be repaid in 15 months by paying the principal sum borrowed plus

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Contemporary Business Mathematics with Canadian Applications

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