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•Vince took out a $500 loan to buy a new couch. He paid back the loan in 2 years and paid a total of $570. What was the simple interest rate for his loan?

•Vince took out a $500 loan to buy a new couch. He paid back the loan in 2 years and paid a total of $570. What was the simple interest rate for his loan?
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2 votes
•Vince took out a $500 loan to buy a new

couch. He paid back the loan in 2 years and
paid a total of $570. What was the simple
interest rate for his loan?

User Dominic Jodoin
by
8.3k points

1 Answer

1 vote

Answer:

6.73% i'm not exactly sure

Explanation:

User Denis Bazhenov
by
7.9k points
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