13-08-2020
Mathematics

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67) Interest on a Loan: Jeff Hubbard borrowed $800 from his brother for 2 years. At the end of 2 years, he repaid
the $800 plus $128 in interest. What simple interest rate did he pay?

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13-08-2020

Answer:

0.08%

Step-by-step explanation:

2 years,

the $800 plus $128 in interest. What simple interest rate did he pay?

128/2

$64 a year

64/800=0.08

so 0.08%

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