Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. a loan of $1,020 was repaid at the end of 12 month

A loan of $1,020 was repaid at the end of 12 months with a check...

80.2K

Verified Solution

Question

Basic Math

image

A loan of $1,020 was repaid at the end of 12 months with a check for $1,050. What annual rate of interest was charged? The annual rate of interest was charged at %. (Round to two decimal places as needed.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Almost all medical schools in the United States require students to take the Medical College Admission...

Statistics
Q

how do you do a plate count/serial dilution problem?

Biology
Q

??????Variable Identification: how do i know if they have 1 or 2 variables? A study was conducted...

Advance Math
Q

Identifying the Center and Radius Given an Equation in General Form Identify the center and...

Geometry
Q

50 50 chance of being correct 14 SAT Test When making a random guess for...

Statistics
Q

Let U a b c d e f g h i j k A b...

Algebra
Q

you are asked to give your opinion on which company to invest in (Your responsibility...

Accounting
Q

im not sure if i did some correctly please help! Gig Harbor Boating...

Accounting
Q

Cabana Corporation manufactures furniture in several divisions, including the patio furniture division. The manager of...

Accounting
Q

During 2021, its first year of operations, Baginski Steel Corporation reported a net operating loss...

Accounting
Q

HighGrowth Company has a stock price of $19. The firm will pay a dividend next...

Finance
Q

1. Forward Foreign Exchange: Yen/Us dollar and Forward exchange rate 3month = 110 $....

Finance