Jtyree8920 Jtyree8920

13-03-2024
Business

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Assuming all interest is simple interest, Fred started a new e-commerce business and borrowed $11800 for 13 years to get the business up and running. The interest accrued was $7209.80. Find the interest rate. Round to two decimal places, if necessary.
The interest rate for Fred's loan is ___%.

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