Suppose a 8-year loan for principal amount $8500 was taken out. Over the life of the loan $3400 was paid. If interest did not compound, what was the interest rate per year?

Question

asked Feb 14, 2023 109k views

1 Answer

asked May 26, 2024 159k views

Idfah asked May 26, 2024

by Idfah

7.6k points

1 answer

5 votes

159k views

asked Feb 13, 2019 6.4k views

BernardK asked Feb 13, 2019

8.3k points

1 answer

1 vote

6.4k views

asked Nov 1, 2019 3.8k views

Avagut asked Nov 1, 2019

8.8k points

1 answer

4 votes

3.8k views

Bougiefever · Answer 1 · 2023-02-21T12:03:24+0000

Explanation:

8500× 8

8500

× 8

52000

so,

I will complete your answer

you can any doubt please ask to me

the interest rate per year is = 52000 answer