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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 $60 simple interest. What was the annual interest rate?

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 annual interest rate?
asked 4.2k views
3 votes
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 annual interest rate?

asked
User Coquelicot
by
8.1k points

1 Answer

6 votes

Answer:

2 percent

Explanation:

i took the test

answered
User Maulik Modi
by
7.5k points
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