Question
Julia takes out a loan for $1,200 from a bank that charges 5.4% simple interest per year. If the total amount she repays is $1297.20 for how long did she borrow the money???
Answers
Juts use your A = P(1+rt) formula to find t
1200(1+0.054t) = 1297
1200(1+0.054t) = 1297
thank you so much!
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