3 years ago

Miguel borrowed $1,800 for 2 years and ended up paying $180 in simple interest what was the interest rate

Mathematics

2 answers:

kotegsom [21]3 years ago

5 0

180 = 1800 x 2 x i
180 = 3600 i
i = 180 / 3600
i = 0.05
i = 5%

answer
<span>interest rate was 5%</span>

guapka [62]3 years ago

4 0

It was 10% 1,800 ÷10 =180.

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