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Agatha borrowed $4,500 from the bank. 4 years later, Agatha owes the bank $5,040. What was the percentage rate of simple interest in the loan?

1 Answer

5 votes

Answer:

12%

Explanation:

If we subtract both numbers we get 540.


(540)/(4500) = (x)/(100) \\

540 x 100 = 54,000

54,000 / 4,500 = 12%

User Jason Wood
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