Donna took out a loan for $5200 and was charged simple interest at an annual rate...
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Donna took out a loan for $5200 and was charged simple interest at an annual rate of 10.2%. The total interest she paid on the loan was $663. How long was the loan for, in months? Do not round any intermediate computations. If necessary, refer to the list of financial formulas. months. X Donna took out a loan for $5200 and was charged simple interest at an annual rate of 10.2%. The total interest she paid on the loan was $663. How long was the loan for, in months? Do not round any intermediate computations. If necessary, refer to the list of financial formulas. months. X
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To solve for the length of the loan in months we can use the formula for simple intere... View the full answer
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
Posted Date:
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