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Karsik borrowed $8,500 from a bank. During a period of five years, he paid a total of $2,125 in interest. What was the simple annual interest rate that the bank charged Karsik for his loan?

0.05%

0.5%

5%

7.7%

Answer :

Answer:

5%

Step-by-step explanation:

2,125 interest/5 years=425 interest/year

425/8500=.05 or 5%

Abdulrahimabdulmalekgo

Answer:

the real answer is 4.25

Step-by-step explanation:

hope this helps

by the way to calculate the interest you have to divide the total interest by how many days or years then put in percent form example 2.125 divided by 5 wich equals 4.25

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