A simple interest loan of $4,000 was repaid at the end of 3 years with a check for $4,972. What annual rate of interest was charged?

asked Nov 13, 2022 187k views

5 votes

A simple interest loan of

$4,000 was repaid at the end
of 3 years with a check for
$4,972. What annual rate of
interest was charged?

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1 vote

The answer rate of it is 3.729

Menachem answered Nov 17, 2022

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