OpenStax, Prealgebra 2e §6.4 Solve Simple Interest Applications · Exercise 29 · Algebra · Algebra word problems

Solve Simple Interest Applications · Exercise 29

Solve the problem using the simple interest formula.

Lebron lent his daughter $\$ \text{20},\text{000} $t o h e l p h er b u y a co n d o mini u m . W h e n s h eso l d t h eco n d o mini u m f o u r y e a r s l a t er, s h e p ai d him t h e$ $\text{20},\text{000}, $pl u s$ $\text{3},\text{000}$ interest. What was the rate of interest?

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OpenStax, Prealgebra 2e · §6.4 Solve Simple Interest Applications · Exercise 29

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