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Jake received a student loan for $12000. He plans on paying off the loan in 5 years. At the end of 5 years jake will have paid $3,600 in interest. What is the simple interest ra…
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Jake received a student loan for $12000. He plans on paying off the loan in 5 years. At the end of 5 years jake will have paid $3,600 in interest. What is the simple interest ra…
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Nov 26, 2019
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Jake received a student loan for $12000. He plans on paying off the loan in 5 years. At the end of 5 years jake will have paid $3,600 in interest. What is the simple interest rate on the student loan?
Mathematics
middle-school
Jack Juiceson
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I believe the answer would be 30%.
Hope this helps ;}
Serverfaces
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Dec 2, 2019
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