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Agatha borrowed $4,500 from the bank. 4 years later, Agatha owes the bank $5,040. What was the percentage rate of simple interest on the loan?

Agatha borrowed $4,500 from the bank. 4 years later, Agatha owes the bank $5,040. What was the percentage rate of simple interest on the loan?
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Agatha borrowed $4,500 from the bank. 4 years later, Agatha owes the bank $5,040. What was the percentage rate of simple interest on the loan?

asked
User Peadar Doyle
by
7.6k points

1 Answer

3 votes

Answer:

12%

Explanation:

answered
User Sean Corfield
by
8.2k points
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