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17 February, 07:38

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 annual interest rate?

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  1. 17 February, 11:11
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    12

    Step-by-step explanation: You would have to find out 5 times what equals 60.
  2. 17 February, 11:20
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    60/600=.1

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