Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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![4. What is the annual interest rate if a simple 1nterest loan of
$15,000 for four months yields $975 interest?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d2575fd-ef01-4da8-8cc0-f2c0613a0506%2F2512d0b2-c975-46db-bcdb-26f39918aea5%2Fx8t5ng_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. What is the annual interest rate if a simple 1nterest loan of
$15,000 for four months yields $975 interest?
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