Directions: Select a single answer choice.
Lin took a loan of $10,000 from the bank at 10% simple interest for 6 years. If Herman took out a loan for half the amount of money, but for twice the amount of time, at a simple interest rate, what would that rate have to be for him to owe (in interest) 3/4 of the amount of interest that Lin owed at the end of his loan?
Subscribe |