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Mathematics

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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 :

ADITYAREDDYKARRAGO ADITYAREDDYKARRAGO

Answer:

5%

Step-by-step explanation:

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