Question: Dalton loaned $ 5 5 0 , 0 0 0 to Doc Holliday on August 2 4 . On February 8 of the following year,

Dalton loaned $550,000 to Doc Holliday on August 24. On February 8 of the following year, Doc paid to Dalton the $65,000 interest that had accumulated on the debt up to that time. What simple rate of interest was Dalton charging on this loan?
21.90%
74.32%
25.68%
21.79%
24.69%

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