Interest Is $405 on a Principal Balance of $5,000; Assuming

question 50

Short Answer

Interest is $405 on a principal balance of $5,000; assuming a 7 month loan, what is the rate? Round to the nearest cent or hundredth percent as needed.

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Definitions:

Conflict Resolution

The process of addressing and settling disputes or disagreements among parties through dialogue, negotiation, or other peaceful means.

Warfare

The engagement in or the activities involved in war or conflict, including strategies, tactics, and combat operations.

Human Violence

Acts of aggression and harm perpetrated by humans against one another, ranging from individual actions to large-scale conflicts.

State Society

A form of society characterized by a hierarchical and bureaucratic structure of government, maintaining authority over a specific territory and population.