Your bank gives you a special loan of $112,000. at the end of 30 years, you will pay the bank $176,400 in simple interest. what is the annual interest rate on your loan? use the formula: i = prt.

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

have a nice day!