Answer the following question. You borrow $3000 from a friend and promise to pay back $5460 in 4 years. What simple interest rate will you pay? 0.205% 2% 20.5% 10%
Answer the following question. You borrow $3000 from a friend and promise to pay back $5460 in 4 years. What simple interest rate will you pay? 0.205% 2% 20.5% 10%
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
![Answer the following question.
You borrow $3000 from a friend and promise to pay
back $5460 in 4 years. What simple interest rate will
you pay?
0.205%
2%
20.5%
10%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8e9b848c-bf35-4f99-914a-96c438bf072c%2Fbe44fd54-349a-42c6-a828-6ce89af34f20%2Fpq3fx9b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Answer the following question.
You borrow $3000 from a friend and promise to pay
back $5460 in 4 years. What simple interest rate will
you pay?
0.205%
2%
20.5%
10%
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