What rate of interest is paid if the interest on a loan of $2500 is $96.06 from November 14, 2023, to May 20, 2024?
Added by Cameron P.
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This is 188 days. Interest is usually calculated annually, so we need to convert the number of days into years. There are 365 days in a year, so 188 days is approximately 0.515 years. Show more…
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