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Debra borrowed 5,000 from a bank for 6 years and was charged simple interest. The total interest that she paid on the loan was 2100 . As a percentage, what was the annual interest rate of her loan?
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Debra borrowed 5,000 from a bank for 6 years and was charged simple interest. The total interest that she paid on the loan was 2100 . As a percentage, what was the annual interest rate of her loan?

User Pobk
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2 Answers

3 votes
7% is the interest rate
User Glyphobet
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9 votes

Answer:

7% was the interest rate

User Sarumont
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