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3 years ago

A vet borrows $12,000 for 4 years. The total interest paid was $960. What was the interest rate on the loan?

Mathematics

1 answer:

Alchen [17]3 years ago

3 0

Answer:

2% per year.

Step-by-step explanation:

Solving our equation

r = 960 / ( 12000 × 4 ) = 0.02

r = 0.02

converting r decimal to a percentage

R = 0.02 * 100 = 2%/year

The interest rate required to

accumulate simple interest of $ 960.00

from a principal of $ 12,000.00

over 4 years is 2% per year.

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4 years ago

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Step-by-step explanation:

we know that

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Im not sure if that is what you are looking for or if you want x ≤ -3 and x ≥ -8

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