Jessica borrowed $3000 from a bank for 3 years and was charged simple interest. The total interest that she paid on the loan was $540. As a percentage, what was the annual interest rate of her loan?

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07-12-2022
Mathematics

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Jessica borrowed $3000 from a bank for 3 years and was charged simple interest. The total interest that she paid on the loan was $540. As a percentage, what was the annual interest rate of her loan?

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