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Zhen borrows $1,200. She borrows the money for 2 years and owes $180 in simple
interest. What is the yearly simple interest rate on Zhen's loan? Show your work

Respuesta :

miraclemcknight48

Answer: 7.5

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 7.5%/100 = 0.075 per year,

then, solving our equation

I = 1200 × 0.075 × 2 = 180

I = $ 180.00

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