Jake received a student loan for $12,000. he plans on paying off the loan in five years, jake will have paid $3600 in interest. what is the simple interest rate on the student loan?

If Jake receive $12,000 and he will have to pay $3,600 as an interest rate, then he will need to give $12,000 + $3,600 = $15,600 overall. But to find the interest rate we need to find out how many percent of $12,000 is $3,600:

12,000 * x% = 3,600
12,000 * x/100 = 3,600          / * 100 (both sides)
12,000 * x = 360,000            / ÷ 12,000 (both sides)
x = 30

Doublecheck:

12,000 * 30% =
= 12,000 * 30/100 =
= 12,000 * 3/10 =
= 36,000/10 =
= 3,600

So it's correct.

The interest rate is 30%.

Do the math. she originally had 50 dollars on her gift card and she had 12 dollars left on her gift card after she finished her shopping spree. if you subtract 50 minus 12 you get thirty eight dollars as your answer. so therefore, ciara spent 38 dollars total o