math

posted by .

Richard took a loan of $10000 at a rate of 4%. If he paid $1600 in interest, how many years did it take to pay back the loan?

  • math -

    10,000 * 0.04 = 400

    1600 / 400 = ?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Transitional Math

    Richard took a loan of $10000 at a rate of 5%. If he paid $2500 in interest, how long did it take him to pay off the loan?
  2. math

    Jill ley took out a loan to pay for education for $60,000. would be repay back in 8 years with the interest of 6% what will be jill pay back at the end of the loan is:
  3. math

    Jill Ley took out a loan to pay for her child's education for $60,000 the loan wouls be repaid at the end of 8 years in one payment with an interest of 6 percent the total amount Jill has to pay back at the end of the loan is.
  4. business math

    Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:
  5. Math

    Maya bought a car for $15,000. To pay for it, she took a bank add-on interest loan at an annual interest rate of 9%. The loan term is 5 years. How much interest will she pay and what are her monthly payments?
  6. math

    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?
  7. math

    . 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?
  8. math

    Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is: (Points …
  9. APR Problem

    After visiting several automobile dealerships, Richard selects the car he wants. He likes its $11,000 price, but financing through the dealer is no bargain. He has $2,200 cash for a down payment, so he needs an $8,800 loan. In shopping …
  10. math

    renu took a loan at si rate of 6% in 1 yr with an increase of .5% in each subsequent yr.he paid interest of rs 3375 after 4 yr.how much loan did she take?

More Similar Questions