tamiamason08 tamiamason08

26-03-2021
Mathematics

contestada

April took out a $600 loan from the bank. At the end of 5 years, she pays
back the principal, plus $60 simple interest. What was the interest rate?
a) 2%
b) 7%
c) 1.2%
d) 5.5%

Respuesta :

kailawebb2005 kailawebb2005

26-03-2021

Answer:

2%

Step-by-step explanation:

$60 is 10% of $600

If you divide that 10% by the 5 years you get 2%

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