Asked by rosie

a 5000 loan, taken now with a simple interest rate of 4% per year, will require a total repayment of 5400dllrs. After how many years t will the loan mature?
Answered by Ms. Sue
I = PRT

400 = 5,000 * 0.04 * t

Solve for t.

Answered by rosie
2 years
Answered by Ms. Sue
Right.
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