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HELP ME ASAP!!! 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 r…

HELP ME ASAP!!! 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 r…
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22 votes
HELP ME ASAP!!!

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

asked
User Grigoryants Artem
by
8.2k points

2 Answers

9 votes

Answer:

14 precent

Explanation:

i took the quiz

answered
User Lunguini
by
9.1k points
10 votes

Answer:

its 14% i just did the assignment

Explanation:

answered
User ChristopherStrydom
by
8.1k points
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