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Five years ago, Jay borrowed $1500 from his mother. He agreed to pay $150 in interest. What is the simple annual interest rate for this loan

Five years ago, Jay borrowed $1500 from his mother. He agreed to pay $150 in interest. What is the simple annual interest rate for this loan
asked 177k views
1 vote
Five years ago, Jay borrowed $1500 from his mother. He agreed to pay $150 in interest. What is the simple annual interest rate for this loan

asked
User Josh Pittman
by
8.7k points

2 Answers

6 votes

Answer:

225$ in interest is how much he will have to pay

answered
User Yiddy
by
7.7k points
3 votes

Answer 1%

MAYYYYBEEEE

answered
User Oleg Zhurakousky
by
7.3k points
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