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12 March, 04:41

Frank borrowed $5,000 with an annual simple interest rate. The amount of interest he owed after 6 months was $300. What is the interest rate of the loan?

A. 1%

B. 6%

C. 10%

D. 12%

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Answers (1)
  1. 12 March, 08:26
    0
    B. 6%
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