## determine the simple interest applied to a principle over 20 years if the total interest paid equals the borrowed principal

Question

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## Answers ( )

Answer:5%

Step-by-step explanation:You want to find r when …

I = Prt

is equal to P and t=20.

P = Pr·20 . . . . fill in the problem values

1/20 = r = 0.05 = 5% . . . . divide by 20P

The simple interest rate is 5%.