Question: The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $5000.00,

The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $5000.00, A = $5500.00, t = 2 years% (Round to the nearest tenth of a percent as needed.)

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