# Simple interest loan for $1000. Paid back after 30days with interest?

## 1 Answer

\[\frac{312.23}{1000}=0.31223=31.223 \%.\]

The yearly interest rate is

\[r=12 \times 0.31223=3.74676=374.676 \%.\]

Savionf

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30 days or 30 years?

30 Days, a short term loan