A couple took out a $5,000 loan from the bank. The loan had a simple interest rate of 7.5% per year. By the end of the loan, the

Question

2 years ago

6

couple had paid $2,250
interest.
What was the length of the couple's loan?

2 answers:

Sholpan [36] · Answer 1 · 2022-12-03T04:47:17+03:00

8 0

Answer:

6 years

Step-by-step explanation:

t=2250/375

t=6

Hence time of the loan will be 6 years

galben [10] · Answer 2 · 2022-12-03T06:08:04+03:00

4 0

Answer:

6 years

Step-by-step explanation:

5000 x 0.075 = 375

2250/375 = 6

therfore it is 6 years worth of interest