Samantha received a loan from the bank for $4,500. She plans on paying off the loan in 4 years. At the end of 4 years, Samantha will have paid $900 in interest. What was the interest rate on the loan?

Question

02-11-2021
Mathematics

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Samantha received a loan from the bank for $4,500. She plans on paying off the loan in 4 years. At the end of 4 years, Samantha will have paid $900 in interest. What was the interest rate on the loan?

Sagot :

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