Hank borrowed $25,000 for 3 years to remodel his house. At the end of the loan, he had repaid a total of $29,125. At what simple interest rate did he borrow the money?

Question

Hank borrowed $25,000 for 3 years to remodel his house.  At the end of the loan, he had repaid a total of $29,125.  At what simple interest rate did he borrow the money?

sammixboo · Answer

Do you know the formula to solve this?

thesmartone · Answer

He isn't even online...

thesmartone · Answer

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thesmartone · Answer

xD

sammixboo · Answer

Well, dang. I didn't even pay attention to when he asked this, LOL

sammixboo · Answer

20 min ago, LOL. The leave after 5 min of no one helping

thesmartone · Answer

ikr