4. Kelsey obtains a loan with simple interest to buy a used car that costs $12,500. If Kelsey pays $850 in interest during the five-year term of the loan, what was the rate of simple
interest? (Hint: I = PRT

Answerthe simplified expression isexplanationthe given expression is,let us deal with the bracket first.the two negatives in the parenthesis will become positive.the expression now becomes,we now expand the parenthesis to get,we group like terms to obtain,this simplifies to,