$844.52*
You borrow $10,000 to set up a Web hosting company, and you pay back a total of $13,000 after 24 months. What was the interest rate?
1. 12%
2. 14%
3. 16%
4. 15%
* I am not sure if the teacher meant to put this there or not. it may have been a typo.
Please help me!
you paid $3000 interest in 2 years, or $1500 per year.
1500/10000 = 15%