hundredpercentstella hundredpercentstella

20-11-2020
Mathematics

contestada

A loan of $25,000 has an annual simple interest rate of 5.5%. The total cost of the loan is $38,750.
A. How much total interest will you pay?

B. How long does it take to repay the loan?

Respuesta :

itsnolanig itsnolanig

20-11-2020

A. 13,750
B. 100 years? It doesn’t sound right but that’s what my calculations are telling me :)

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