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HELP ME ASAP!!! You want to find the rate of simple annual interest for a two-year loan. The bank charges $560 interest for the $2,000 loan. What is the simple annual interest rate? I = Prt 560 = 2,000
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HELP ME ASAP!!!

You want to find the rate of simple annual interest for a two-year loan. The bank charges $560 interest for the $2,000 loan.

What is the simple annual interest rate?

I = Prt

560 = 2,000 x r x 2

User Grigoryants Artem
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3.7k points

2 Answers

9 votes

Answer:

14 precent

Explanation:

i took the quiz

User Lunguini
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3.8k points
10 votes

Answer:

its 14% i just did the assignment

Explanation:

User ChristopherStrydom
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3.2k points
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