MasterBlade237 MasterBlade237

28-05-2016
Mathematics

Answered

A $1500 loan has an annual interest rate of

4 1/4% on the amount borrowed. How much time has elapsed if the interest is now $127.50?

Really need this please explain some work too. Thx!

Verified Answer :

Serenaaa Serenaaa

28-05-2016

127.50 = 1,500(0.0425) x

127.50 = 63.75 x

x= 127.50/63.75

x=2

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