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What is the interest rate

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Crimson Tide borrows $15,000 on September 1, 2012. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 10%. What is the interest rate?

Reference no: EM13506027

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What is the interest rate : Crimson Tide borrows $15,000 on September 1, 2012. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 10%. What is the interest rate?
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