Question

Maggie is taking out a student loan for $2,600. She plans on paying off the loan in 3 years. At the end of the 3 years, Maggie will have paid $390 in interest. What is the simple interest rate on the student loan?

PLEASE HELP!! THIS IS DUE TONIGHT

Answer 1

I need the correct answer!!!!!!!!!!!!!!!!

Explanation:

Answer 2

Answer: 15%

Explanation:

x is the simple interest rate

2,600 * X = 390

390 / 2,600=

15%