Question

determine the simple interest applied to a principle over 20 years if the total interest paid equals the borrowed principal​

Answer 1

5%

Explanation:

You want to find r when ...

I = Prt

is equal to P and t=20.

P = Pr·20 . . . . fill in the problem values

1/20 = r = 0.05 = 5% . . . . divide by 20P

The simple interest rate is 5%.