A man needed money to buy lawn equipment He borrowed 5800.00 for five months and...

60.1K

Verified Solution

Question

Accounting

image
A man needed money to buy lawn equipment He borrowed 5800.00 for five months and paid 553.95 in interest What was the rate of interest? The rate of interest per year was % (Round to one decimal place 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