A man borrowed $29,000 for two years under simple interest. At the end of the two years his balance due was $31,900. What annual simple interest rate did he pay?

Name: A man borrowed $29,000 for two years under simple interest. At the end of the two years his balance due was $31,900. What annual simple interest rate did he pay?
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The Answer of A man borrowed $29,000 for two years under simple interest. At the end of the two years his balance due was $31,900. What annual simple interest rate did he pay?

A Man Borrowed $29,000 for Two Years Under Simple Interest