Mathematics, 01.07.2019 18:30 kookycookiefanx
April took out a $600 loan from the bank. at the end of 5 years, she pays back the principal, plus $60 simple interest. what was the interest rate? enter your answer in the box.
Answers: 1
given the principal 
and the time 
and the interest rate 
is 
. For this problem we have to find the interest rate 
. To archive that , we can just solve the equation making the interest rate the subject of the formula as shown below,
or 0.02 as a decimal. The interest rate is 2% as a percentage.
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April took out a $600 loan from the bank. at the end of 5 years, she pays back the principal, plus $...
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