i need with the following question.
it is about math of finance.
questions:
a $3500 loan was settled ten years later with a payment of $8100. determine the annual rate of return.

The annual rate of return is 13.14%.

Step-by-step explanation:

As it is not mentioned whether the amount was compounded, so we will assume this to be simple interest.

Given is - A $3500 loan was settled ten years later with a payment of $8100.

Means total amount paid back was = $8100

And original principle was = $3500

So, interest paid = dollars

Now simple interest formula is :

Where p = 3500

I = 4600

r = ?

t = 10

Now putting these values in formula we get;

r=  0.1314

So, rate of interest = 13.14%

75

step-by-step explanation: