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Posted by on Monday, August 6, 2012 at 9:21pm.

. Richard took a loan of 10,000 at a rate of 4%. If he paid $16,00 in interest, how many years did it take him to pay back the loan?

  • math - , Monday, August 6, 2012 at 9:24pm

    I assume he paid $1600 in interest.

    I = PRT

    1600 = 10,000 * 0.04 * t

    Solve for t.

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