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pickupchik [31]
3 years ago
10

Christopher borrowed $22,000 for 7 years. At the end of the loan, he had paid a total of $27,390. Find the interest rate on the

loan.
Mathematics
1 answer:
oee [108]3 years ago
5 0

Step-by-step explanation:

okay so we know i = prt

in this scenario

p = 22,000

r = ?

t = 7

i = 27,390

the equation for r is (i/p*t)

so now let's plug in what we know

r = 27,390/22,000 * 7

r = 1.245 / 7

<u><em>r = 8.715</em></u>

<u><em></em></u>

please rate 5 stars and vote brainliest and say thanks

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