a bank was to give a loan out to a newly married couple for 800,000 with no interest for 2 years and raise the price to 900,000 after 2 years. what is the interest rate?
Choose the correct choice from the following
A) 17%  B) 13%  C) 12%  D) 7%  E) 6%
for 0 years = (900,000- 800,000) = 100,000.   for 2 years = (100,000 x 2)/2= 100,000   Principal = (800,000 - 100,000) = 700,000.   Hence, rate = (100 x 100,000)/(700,000x2) = 7% ANSWER: 7%
<result>D</result>
a bank was to give a loan out to a newly married couple for 800,000 with no interest for 2 years and raise the price to 900,000 after 2 years. what is the interest rate?