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  • 12-12-2015
  • Mathematics
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An X-ray machine for animals costs$125,000. If the loan is for 10 years, an the interest paid is $65,625, what is the interest rate on the loan

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Ger57
Ger57 Ger57
  • 12-12-2015
The answer is 5.25%.

$65,625/10yrs=$6,562.50 per a year.

6,562.5/125000= .0525 which translates to 5.25%.


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