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30-11-2020
Mathematics

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PLEASE HELP ME!! #4 Suzan took out a $700 loan from the bank. At the end of 5 years, she pays back the principal, plus $105in simple interest. What was the annual interest rate? *

Respuesta :

liviatosburn liviatosburn

30-11-2020

Answer:

3%

Step-by-step explanation:

105 = 700 x r x 5

r = 105 / ( 700 × 5 ) = 0.03

r = 0.03

0.03 in percent is 3%

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