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AleksandrR [38]
3 years ago
12

The owner of a clothing store borrows $5,000 for 1 year at 14.5% interest. If he pays the loan back at the end of the year, how

much does he pay back
Mathematics
1 answer:
oksano4ka [1.4K]3 years ago
8 0

Answer:

Depends on the sort of interest, He could have paid annual interest, compound interest, monthly. If it is annual interest the answer is 5,725$

Step-by-step explanation:

Multiply the initial value by the growth (1.145)

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\\ \tt\Rrightarrow (1-y)(3-y)(6-y)=-70

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#2

\\ \tt\Rrightarrow (1-y)(3-y)(6-y)=120

\\ \tt\Rrightarrow -y(1+1)(3+1)(6+1)=120

\\ \tt\Rrightarrow -y(2)(4)(7)=120

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\\ \tt\Rrightarrow y=\dfrac{-120}{56}

\\ \tt\Rrightarrow y=\dfrac{-15}{7}

7 0
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