Question

Keisha borrowed $400 from a bank for 5 years and was charged simple interest. The total interest that she paid on the loan was $120. As a percentage, what was the annual interest rate of her loan?

Answer 1

you need to divide 120 by 5

Explanation:

the percentage is 16.6 and it goes on that is for 1 year

Answer 2

6%

Explanation: