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Find the simple interest rate of a loan

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Reference no: EM131622957

Question: 1. Find the simple interest rate of a loan of $5,000 that is made for three years and requires $1,762.50 in interest.

2. How much money is borrowed if the interest rate is 9(1/4)% simple interest and the loan is made for 3.5 years and has $904.88 interest?

Reference no: EM131622957

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