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1After paying off her two-year loan of $5000, Janice noticed she had paid a total of $5200. Find
out what interest rate they used to charge her during this time.

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clarch19

Answer:

2%

Step-by-step explanation:

Interest = Principal x Rate x Time

200 = 5000(2)·r

200/10000 = r

r = 2/100 which is .02 or 2%

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