OpenStax, Prealgebra 2e §6.4 Solve Simple Interest Applications · Exercise 27 · Algebra · Algebra word problems

Solve Simple Interest Applications · Exercise 27

Solve the problem using the simple interest formula.

Hilaria borrowed $\$ \text{8},\text{000} $f r o mh er g r an df a t h er t o p a y f or co l l e g e . F i v ey e a r s l a t er, s h e p ai d himba c k t h e$ $\text{8},\text{000}, $pl u s$ $\text{1},\text{200}$ interest. What was the rate of interest?

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OpenStax, Prealgebra 2e · §6.4 Solve Simple Interest Applications · Exercise 27

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