contestada

Mason took out an $800 loan from the
bank. At the end of 5 years, he pays
back the principal, plus $120 simple
interest. What was the annual interest
rate?

Respuesta :

s11654894
The annual interest would be $24 since 120=5 years, 120 divided by 5 equals 24

Answer: 3%

This is pretty easy so this is it