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Jake received a student loan for $12,000. 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?
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Jake received a student loan for $12,000. 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?

User Graham P
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7th ggdvb geeks Russell scours
User GtotheB
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