Define what interest rate is being charged

Reference no: EM132765504

Question: If an entrepreneur applies for a loan amounting to P500,000 in a bank, the simple interest of which is P157,000 for 3 years, what interest rate is being charged? The response must be typed, double spaced, times new roman, font size 12 and must follow APA format.

Reference no: EM132765504

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