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A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?

A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?
asked 130k views
2 votes
A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?

asked
User Phocs
by
7.5k points

2 Answers

4 votes

Answer:

26,82% aas the imvest

Explanation:

jejeje

answered
User Max Worg
by
8.0k points
4 votes
12000+875=12875 the total he paid
12000*x/100*4=12875
480x=12875
x=12875/480
x=26,82 %
answered
User Koen Van Der Linden
by
8.2k points
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