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Latoya borrowed $ 9 0 0 from a bank for 5 years
Undergraduate
Latoya borrowed $ 9 0 0 from a bank for 5 years and was charged simple interest. The total interest that she paid on the
Latoya borrowed
$
9
0
0
from a bank for
5
years and was charged simple interest. The total interest that she paid on the loan was
$
3
1
5
.
As a percentage, what was the annual interest rate of her loan?
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1
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