6
QuizMultiple Choice

Budget — Test

Question 6 • Financial Math

A customer pays the bank a total of 4 dollars comma 224 after borrowing 3 dollars comma 200 at a simple interest rate for 5 years. What was the interest rate?

Answer
A
0 point 0 6 percent
B
3 point 2 percent
C
6 point 4 percent
D
0 point 3 2 percent
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