13. Dr. Jones took out a loan for a new medical instrument cleaning system. The interest paid on the loan was $650. The loan was

Question

defon

3 years ago

8

13. Dr. Jones took out a loan for a new medical instrument cleaning system. The interest paid on the loan was $650. The loan was

for 24 months, and the interest rate was 2.75%. How much money did Dr. Jones borrow?

Mathematics

1 answer:

Ivan · Answer 1 · 2022-04-24T15:38:35+03:00

Given that the loan is paid for 24 months or 2 years and the interest rate is 2.75% which is $650. In order for us to find the amount that Dr. Jones borrowed, let us put it this way. ? x 0.0275 = 650. So we divide 650 by 0.0275 and the answer is 23,636.36. Hope this answers your question.