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Joanna received a loan from the bank for $5,000, and she plans on paying the loan back in 3 years. She will have paid $800 in simple interest. What is the simple interest rate of the bank loan? * 1 point
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Joanna received a loan from the bank for $5,000, and she plans on paying the loan back in 3 years. She will have paid $800 in simple interest. What is the simple interest rate of the bank loan? *

1 point
.05%
5.3%
18.75%

User Nagendra Nag
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5.3k points

1 Answer

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Answer:

5.3 is the amswer! Hope u pass

User Kknaguib
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