A man made a loan of $102 to be repaid with $129 at the end of 5 months. What was the annual (simple) interest rate in %? (write your final answer in % and round it off to two decimal places)
A man made a loan of $102 to be repaid with $129 at the end of 5 months. What was the annual (simple) interest rate in %? (write your final answer in % and round it off to two decimal places)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A man made a loan of $102 to be repaid with $129 at
the end of 5 months. What was the annual (simple)
interest rate in %?
(write your final answer in % and round it off to two
decimal places)
Round your answer to 2 decimal places.
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