seppy36 seppy36

12-05-2020
Mathematics

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Frank borrowed $800 from a lender that charged simple interest at an annual rate of 4%. When Frank paid of the loan, he paid $128 in interest How long was the loan for, in years?

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alexiacarolina2001 alexiacarolina2001

12-05-2020

Answer:

4 years

Step-by-step explanation:

800 x 0.04 = 32

128 ÷ 32 = 4

4 years

...

4% = 0.04 because of 4 ÷ 100

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