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Archy [21]
3 years ago
12

Bobby borrowed $500 at 12 percent simple annual interest. He paid back $680 to pay off the loan. How many years did it take

History
2 answers:
Zielflug [23.3K]3 years ago
4 0

Answer:

OK DONT DELETE MY ANSWER IM JUST SAYING THE GUY WHO SAID ITS 11 IS WRONG I GOT IT WRONG ON E2020

Explanation:

aniked [119]3 years ago
3 0

Answer:The answer is 11

Explanation:

Using the simple interest formula, SI = PRT/100

Making T the subject of the formula T=100I/PR

I=$680, P=$500,R=12%

T= 100*680/500*12

T=68,000/6,000

T=11.3

Therefore to the whole number T=11

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