Levi takes a textbook to a pawnshop to borrow some money and is given $45.00. Levi must pay back the $45.00 in addition to a $15.25 fee in 5 months.
What simple interest rate is he being charged?
Round to the nearest tenth of a percent and don't forget to include a percent sign, %, in your answer.
Levi is being charged a simple interest rate of _______.
