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Like borrowed $15,000 to pay his college tuition. Aftershocks graduates he will repay the loan along with simple interest. After two years Luke will owe a total of $17,250. What…

Like borrowed $15,000 to pay his college tuition. Aftershocks graduates he will repay the loan along with simple interest. After two years Luke will owe a total of $17,250. What…
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Like borrowed $15,000 to pay his college tuition. Aftershocks graduates he will repay the loan along with simple interest. After two years Luke will owe a total of $17,250. What is the simple interest rate on Luke’s loan

User Dickson Afful
by
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1 Answer

4 votes

Answer:

7.5%

Explanation:

17,250-15,000=2,250

2,250/2=1,125

1,125= 7.5%

User Evolutionary High
by
8.3k points
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