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3 years ago

13

Carlos borrowed $4000 from a lender that charged simple interest at an annual rate of 7%. When Carlos paid off the loan, he paid

$560 in interest. How
was the loan for, in years?

1 answer:

Tresset [83]3 years ago

7 0

Answer:

it was 2 years

Step-by-step explanation:

4000*7%= 280

280 for a year

280x=560

x= 2

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