Daniel paid $825 simple interest on a $1,400 loan for 5 years. What was the interest rate?

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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Daniel paid $825 simple interest on a $1,400 loan for 5 years. What was the interest rate?

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