bibby426 bibby426

13-01-2022
Mathematics

contestada

If the interest paid was $1428 on a principal of $5100 and an interest rate of 4%, how many years was the loan for?

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jtm2588 jtm2588

13-01-2022

Answer:

7 years

Step-by-step explanation:

Use the formula I=Prt

Convert 4% to a decimal. 4% = 0.04

1428 = 5100(.04)t

1428 = 204t

1428/204 = 204t/204

t = 7 years

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