If an individual received a total of $400 in simple interest payments on a $1,000 loan over four years, the annual simple interest rate was
A) 15 percent.
B) 5 percent.
C) 4 percent.
D) 10 percent.

Question

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The Answer of If an individual received a total of $400 in simple interest payments on a $1,000 loan over four years, the annual simple interest rate was
A) 15 percent.
B) 5 percent.
C) 4 percent.
D) 10 percent.

If an Individual Received a Total of $400 in Simple