dariusneals180 dariusneals180

03-04-2018
Mathematics

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The principal on a loan is $5000, the interest rate is 3.6% and the simple interest is $900.00. How long was the loan?

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sqdancefan sqdancefan

03-04-2018

I = Prt
t = I/(Pr)
t = $900/($5000*.036) = 5 . . . years

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