Ashley borrowed $4000 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was
$320. As a percentage, what was the annual interest rate of her loan?
2 answers:
It is 4% hope this helps you on your journey through school
I= PRT
Interest = (Principal)(Rate)(Time in years)
320 = (4,000)(rate)(2)
320 = 8,000r
0.04 = r
Then convert to a percentage, and get 4%
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Step-by-step explanation:
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Step-by-step explanation:
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Keywords: Slope, line
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