Multiple Choice
If you pay your $3,000 tuition 3 months before it is due, the local college will give you a $250 "scholarship" reducing your tuition payment to $2,750. What is the annual simple interest rate to which this incentive is equal?
A) 36.4%
B) 9.1%
C) 8.3%
D) 33.3%
E) 27.3%
Correct Answer:
Verified
Correct Answer:
Verified
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