Keiko took out a $24,000 loan for 1 month and was charged simple interest. The total interest she paid on the loan was $118. As a percentage, what was the annual interest rate of Keiko’s loan? Do not round any intermediate computations.

the amount you'd have after the work is $1.55

step-by-step explanation:

you subtract 95% from $31.

ratio is 2 : 9

the answer is three

13.5 : 3

take the logarithm of both sides (the base of the log doesn't matter):

apply the exponent property - this says that :

distribute the log terms on both sides:

group like terms together:

divide through both sides by the coefficient on :

you can do some additional rewriting here using the properties of the logarithm to simplify things if you like: