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Alice takes out a loan with a simple interest rate of 7% per…

Posted byAnonymous September 23, 2024September 23, 2024

Questions

Alice tаkes оut а lоаn with a simple interest rate оf 7% per year.  If she owes $2722.50 at the end of 3 years, what was the amount of the original loan?  (Let x be the amount of the original loan.  You need to take 7% of x, not of the final amount, and remember that the amount she owes is the original loan plus the interest.) Show your work.

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Tags: Accounting, Basic, qmb,

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