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4. April took out a $600 loan from the bank. At the end of 5 years, she pays back the principal, plus $60 simple interest. What was the interest rate? 7. Cora's weigh thev perc rou 1 of 2 Assessment, Form
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4. April took out a $600 loan from the

bank. At the end of 5 years, she pays
back the principal, plus $60 simple
interest. What was the interest rate?
7. Cora's
weigh
thev
perc
rou
1 of 2
Assessment, Form A

User Wbg
by
7.7k points

1 Answer

4 votes

Answer:

60/600=.1

.1/5=.02=2% interest rate over 5 years

User Rene Saarsoo
by
7.7k points
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