Mary borrowed $6000 from a bank for 3 years and was charged simple interest. The total interest that she paid on the loan was $7

Question

3 years ago

14

Mary borrowed $6000 from a bank for 3 years and was charged simple interest. The total interest that she paid on the loan was $7

20. As a percentage, what was the annual interest rate of her loan?
If necessary, refer to the list of financial formulas.

what is the percent %

Mathematics

1 answer:

daser333 [38] · Answer 1 · 2022-02-25T05:59:42+03:00

daser333 [38]3 years ago

3 0

4.17

Step by step : I don’t know if it’s right but I did $6000 x 3 cause he did it for 3 year and then it came up to $18,000 then I did what is the percentage of 750$ in $18,000 and got 4.17