Story problem for math?

1 ⤊

Ms. Jordan has been given a loan of $2,500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?

2006-11-01 08:28:33 · 6 answers · asked by BlueEyes4172004 1 in Business & Finance ➔ Credit

Interest = Principal X Rate
Rate = Interest / Principal
Rate = 275 / 2500 = .11 = 11%

2006-11-01 08:34:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋

275/2500 = .11 = 11%

2006-11-01 08:35:54 · answer #2 · answered by koreangurl 2 · 0⤊ 0⤋

275 divided by 2500 would be an 11% interest rate..

2006-11-01 08:36:30 · answer #3 · answered by Fabe 6 · 0⤊ 0⤋

11%

2006-11-01 08:36:29 · answer #4 · answered by msufan1999 2 · 0⤊ 0⤋

11%

2006-11-01 08:31:53 · answer #5 · answered by leannainpa 3 · 0⤊ 0⤋

19.72%

2006-11-01 08:36:36 · answer #6 · answered by golferwhoworks 7 · 0⤊ 0⤋