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Douglas borrowed $1000 from Patricia. He agreed to repay her $1150 after 3 years. What was the interest rate of the loan?

Douglas borrowed $1000 from Patricia. He agreed to repay her $1150 after 3 years. What was the interest rate of the loan?
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4 votes
Douglas borrowed $1000 from Patricia. He agreed to repay her $1150 after 3 years. What was the interest rate of the loan?

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User Traendy
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7.9k points

1 Answer

4 votes
5% interest rate for the loan
answered
User Vetrivel PS
by
8.1k points
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