Loan

If you take a bank loan $ 10000 and we want to repay after the year, we have to pay the total amount $ 10320/ What is the annual interest rate on this loan?

Correct result:

p =  3.2 %

Solution:

$p={\displaystyle \frac{10320-10000}{10000}}\cdot 100=3.2\mathrm{\%}$

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