Given:
Pablo borrowed $100,000 to start a business. 5 years later, he repaid the $100,000, plus $9,375 interest.
Here
[tex]\begin{gathered} P=100000 \\ t=5year \\ I=9375 \end{gathered}[/tex]Required:
To find the interest rate.
Explanation:
Here
[tex]r=\frac{I}{Pt}[/tex][tex]\begin{gathered} r=\frac{9375}{(100000)\times5} \\ \\ r=1.875\% \end{gathered}[/tex]Final Answer:
1.875%