Mcouture13 Mcouture13

16-03-2017
Mathematics

Answered

What is the length of time a loan will last if it has a rate of .02, a principal of $500, and it accrued $60 of interest? Interest= Principal Rate Time. How would you reduce the time of the loan.

Verified Answer :

Anonymous Anonymous

16-03-2017

6 years, 500*.02=10, then multiply by 6 to get $60.

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