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Mathematics, 26.02.2021 20:10 7rnmartinez

You want to find the rate of simple annual interest for a two-year loan. The bank charges $560 interest for the $2,000 loan.

What is the simple annual interest rate?

I = Prt

560 = 2,000 x r x 2

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You want to find the rate of simple annual interest for a two-year loan. The bank charges $560 inter...

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