Mathematics: Ashley borrowed $4000 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $320. As a percentage, what was the annual interest rate of her loan?

Ashley borrowed $4000 from a bank for 2 years

Ответ:

shawntawright1

13.02.2021

I= PRT

Interest = (Principal)(Rate)(Time in years)

320 = (4,000)(rate)(2)

320 = 8,000r

0.04 = r
Then convert to a percentage, and get 4%

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Ответ:

Kadancepiggott7

15.03.2021

Mathematics

It is 4% hope this helps you on your journey through school

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Ответ:

Geo777

25.05.2021

Mathematics

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Step-by-step explanation:

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Ashley borrowed $4000 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $320. As a percentage, what was the annual interest rate of her loan?

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