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Mathematics 18 Online
OpenStudy (anonymous):

can someone help me with this problem...mortgage payment $740 for being 59 days late bank charged $15.00. what was the rate of interest charged by the bank assuming simple interest. round to nearest hundredth.

OpenStudy (shadowfiend):

I believe what you want is what percentage of 740 is 15. Do you know how to find that out?

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