Steven is taking out a loan in the amount of $5,000. His choices are a 3-year loan at 5% simple interest and a 5 -year loan at 4
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Answer:
From the attached graphic, we can see:
(SP + PR) * PR = (WQ + QR) * QR
SP * PR + PR^2 = WQ * QR + QR^2
4 SP + 4*4 = 8 * 5 + 25
4 SP + 16 = 65
4 SP = 49
SP = 49 / 4
SP = 12.25
Step-by-step explanation:
