9514 1404 393
Answer:
9%
Step-by-step explanation:
The interest earned is ...
I = Prt . . . . . principal P at annual rate r for t years
Solving for r, we find ...
r = I/(Pt) = $540/($3000×2) = 0.09 = 9%
The interest rate on Beka's loan is 9%.
