1After paying off her two-year loan of $5000, Janice noticed she had paid a total of $5200. Find out what interest rate they used to charge her during this time. Enter your answer

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asked Jul 5, 2022 185k views

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1After paying off her two-year loan of $5000, Janice noticed she had paid a total of $5200. Find

out what interest rate they used to charge her during this time.

Enter your answer

Mathematics
high-school

KuKu asked

by KuKu

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1 Answer

14 votes

Answer:

Explanation:

Interest = Principal x Rate x Time

200 = 5000(2)·r

200/10000 = r

r = 2/100 which is .02 or 2%

Vitorrio Brooks answered Jul 10, 2022

by Vitorrio Brooks

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