Baka borrows $3,000 to buy a piano. The simple
interest owed at the end of 2 years is $540. what is the annual interest rate on Bakas loan for the piano?
B. Annually 2 years would equal 9%. 540/2=270. 3,000x9%=270. Altogether would be 18%. But, if we’re solving it for each separate year, then it would be 9%.
