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grigory [225]
3 years ago
7

Your friend loans you $550 to buy a PS5. They are going to charge you 3% interest rate. After some time you pay your friend back

the $550 plus $33 in interest. How long did it take you to pay your friend back?
Mathematics
1 answer:
tatuchka [14]3 years ago
6 0

Answer:

2 years

Step-by-step explanation:

3% of $550 = 0.03 * $550 = $16.50

3% interest on $550 for 1 year is $16.50

$33/$16.50 = 2

Since 2 * $16.50 = $33, the loan was for 2 years.

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