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24-04-2017
Mathematics

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April took out a $600 loan form the bank. at the end of 5 years, she pays back the principal, plus $60 simple interest. what was the interest rate?

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24-04-2017

600 x 5 x i = 60
3000 i = 60
i = 60 / 3000
i = 0.02
0.02 = 2%
answer the interest rate was 2%

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