Question

Hannah borrowed $2,000 from a bank. She agreed to pay back the bank $2,180 after 2 years. What was the simple interest rate of the loan? A. 9% B.4.5 % C.0.9% D. 5.45%

Answer 1

the interest rate of 1 year is 4.5%

Answer 2

The simple interest rate for one yr would be (B) 4.5%

Hope i helped and Good Luck on the quiz! :D