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April 20, 2014

Homework Help: Math

Posted by Branson on Monday, May 23, 2011 at 4:06pm.

Henry invests $5,000 in a mutual fund with an annual interest rate of 7.5%. He also has a 4-yr, $10,000 loan at 3.75%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan?

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