Register

If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan? Rate = ________%

If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan? Rate = ________%
asked 72.2k views
0 votes
If $100 is borrowed and the interest after 6 months is $8, what is the annual interest rate for a simple interest loan?

Rate = ________%

asked
User Agweber
by
9.3k points

1 Answer

0 votes

The annual interest rate for a simple interest loan would be 16%.

answered
User Oscarina
by
7.8k points
← Prev Question Next Question →

Related questions

User Matt Fichman
asked May 25, 2024 77.3k views
A staggering ________% of the heat we are putting into our atmosphere is being soaked up by our oceans.
Matt Fichman asked May 25, 2024
by Matt Fichman
8.0k points
1 answer
1 vote
77.3k views
User Solivan
asked Dec 24, 2024 225k views
The albedo of snow is approximately _______%, while the albedo for the whole Earth is approximately ________%.
Solivan asked Dec 24, 2024
by Solivan
8.8k points
1 answer
5 votes
225k views
Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!