# Algera

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Ms. Pecho currently owes \$637.50 simple interest on a loan of \$2500 at a anual inteest ate of 17%. How long has she had the loan?

• Algera -

Hint:
Simple interest
=Prt
P=principal (what was borrowed)
r=rate of interest, 0.17=17%
t=time in years (for yearly interest rate)

I think she should negotiate a bank load at a lower interest than that.

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