Homework Help: math

Posted by mandi on Monday, August 6, 2012 at 5:52pm.

Richard took a loan of $10,000 at a rate of 5%. If he paid $2,500 in interest, how many years did it
take him to pay back the loan?

math - Ms. Sue, Monday, August 6, 2012 at 5:53pm
I = PRT

2,500 = 10,000 * 0.05 * t

Solve for t (time)

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