Assuming you were charged simple interest on a loan of $4,900 which requires you to repay in one year $5,292,what rate of interest would you be charged? (Round interest rate to the nearest hundredth percent if necessary.)
(a)9.26%
(b)8%
(c)7.41%
(d)11%

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The Answer of Assuming you were charged simple interest on a loan of $4,900 which requires you to repay in one year $5,292,what rate of interest would you be charged? (Round interest rate to the nearest hundredth percent if necessary.)
(a)9.26%
(b)8%
(c)7.41%
(d)11%

Assuming You Were Charged Simple Interest on a Loan of $4,900