Solve the following word problems. Round to the nearest cent when necessary.Mickey Sporn

Chapter 0, Problem 31

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Solve the following word problems. Round to the nearest cent when necessary.Mickey Sporn took out a loan for $5,880 at the Linville Ridge Bank for 110 days. The bank uses the ordinary method for calculating interest. What rate of interest was charged if the amount of interest was $275? Round to the nearest tenth of a percent.

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