Question: How to solve Mary borrowed $ 9 0 0 from a lender that charged simple interest at an annual rate of 8 % . When

How to solve Mary borrowed $900 from a lender that charged simple interest at an annual rate of 8%. When mary paid off the loan, she paid $360 in interest. How long was the loan for?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!