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kicyunya [14]
3 years ago
8

Andy borrows $3890 over 4 years. What was the rate per annum of the loan if he paid back $5908?

Mathematics
1 answer:
lesya [120]3 years ago
5 0

Answer:

The formula to get the rate R would be:

principal x (1+R)^time = (principle + interest)

=> 3890 x (1 + R)^4 = 5908

=> (1 + R)^4 = 5908/3890

=> (1 + R)^4 = 1.5188

=> 1 + R = 1.11

=> R = 1.11 - 1 = 0.11 = 11%

Hope this helps!

:)

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Step-by-step explanation:

From the given diagram  and the options, the correct option is,

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    ______________

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Now multiply -4 by -6 and put that product up under the -40 and add:

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