What Is the Rate of Interest on a Loan of $2,000

question 79

Multiple Choice

What is the rate of interest on a loan of $2,000, for 284 days, if the amount of interest is $93.37, using the exact interest method? (Round your answer to the nearest tenth percent)

• A) 14.5%
• B) 4.7%
• C) 5.9%
• D) 6.0%

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