A loan of $16,840 is borrowed at 9% simple interest and is repaid with $4,167.90 interest. What is the duration of the loan?
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Answer:
Step-by-step explanation:
Width=(Length-2) units
W=(L-2) units
Area of the rectangle= 35 square units
Area = length* Width
Subtracting 35 both sides:
Solving the quadratic equation for 'L' ;
Using factorization:
Taking common from the equation :
OR
The length cannot be negative, therefore Length(L)= 7