Frank borrowed $5,000 with an annual simple interest rate. The amount of interest he owed after 6 months was $300. What is the interest rate of the loan?
A. 1%
B. 6%
C. 10%
D. 12%
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Frank borrowed $5,000 with an annual simple interest rate. The amount of interest he owed after 6 months was $300. What is the interest ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What's the greatest common factor for 30,48,60
Answers (2)
How do you write 625.31% as a decimal?
Answers (1)
Initial population is 4000. Annual growth rate is 1.6%. Find the population in 12 years.
Answers (1)
Expand and simplify (x-2) (3x+5)
Answers (1)
The Students at Winwood elementary school collected 574 cans of food in 20 days for a food drive. What was average number of cans of food collected each day
Answers (2)
New Questions in Mathematics
Describe a measurement on your body that is 1 millimeter wide?
Answers (1)
Daniel Sawyer, the CEO of the Sawyer Group, is initiating planning for the company's operations next year, and he wants you to forecast the firm's additional funds needed (AFN). The firm is operating at full capacity.
Answers (1)
A = b minus c divided by c. how do you solve for c?
Answers (1)
Factor the polynomial: a^2 - ab - 8a+8b
Answers (1)
How do you solve 10+|m-6|=7
Answers (1)