PLEASE HELP ME!! #4 Suzan took out a $700 loan from the bank. At the end of 5 years, she pays back the principal, plus $105in si
mple interest. What was the annual interest rate? *
1 answer:
Answer:
3%
Step-by-step explanation:
105 = 700 x r x 5
r = 105 / ( 700 × 5 ) = 0.03
r = 0.03
0.03 in percent is 3%
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