What formula to use?: If you paid $120 to a loan company for the use of $2000 for 90 days, what annual rate of interest was charged?

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What formula to use?: If you paid $120 to a loan company for the use of $2000 for 90 days, what annual rate of interest was charged?

Mathematics
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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I=PRT Interest=principal amount* inetrest Rate*Time 120=2000*R*(90/365) So solve for R

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