A bank made a $12,000 short-term loan to a new book store and earned $187.40 interest in only 60 days. Compute the exact simple interest rate (365-day year) that the bank charged. (To nearest 1/10 of a percent.)

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The Answer of A bank made a $12,000 short-term loan to a new book store and earned $187.40 interest in only 60 days. Compute the exact simple interest rate (365-day year) that the bank charged. (To nearest 1/10 of a percent.)

A Bank Made a $12,000 Short-Term Loan to a New