Question: 5.1 Homework: Problem 9 Previous Problem Problem List Next Problem Shov (1 point) John borrows $1400 for 4 years from a loan company. He is

5.1 Homework: Problem 9 Previous Problem Problem List Next Problem Shov

5.1 Homework: Problem 9 Previous Problem Problem List Next Problem Shov (1 point) John borrows $1400 for 4 years from a loan company. He is only given $1230 and is expected to repay the full amount at the end of the period. (Round your answers to 2 decimal places) What is the simple discount rate? What is the corresponding simple interest rate? Note: You can earn partial credit on this problem, Preview My Answers Submit Answers You have attempted this problem 3 times. Your overall recorded score is 0%

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