Asked by Rose

Ms Pecho currently owes $637.50 in simple interest on a loan of $2500 at an annual interest rate of 17%. How long has she had the loan.
This is his problem and I have no clue how to help him but I do know the answer he came up with is 18.77. That seems wrong to me.
Answered by Writeacher
Assistance needed.

Please type your <u>subject</u> in the <b>School Subject</b> box. Any other words are likely to delay responses from a teacher who knows that subject well.
Answered by Rose
Math. I thought it was understood when I said math homework and the question asked about percentages.
Answered by Rose
I see no school subject box
Answered by Rose
8th grade math. I cannot help my grandson with his math. I do not understand it myself. It is dealing with percentages. I do not understand it.
Answered by Ms. Sue
2500 * 0.17 = $425 annual interest

637.5 / 425 = 1.5 years

Answered by Writeacher
When you click on Post a New Question, the School Subject box should be obvious.
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