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Chang borrowed money from a credit union for 4 years and was charged simple interest at an annual rate of 9%. The total interest that he paid was $2160. How much money did he bo…

Chang borrowed money from a credit union for 4 years and was charged simple interest at an annual rate of 9%. The total interest that he paid was $2160. How much money did he bo…
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3 votes
Chang borrowed money from a credit union for 4 years and was charged simple interest at an annual rate of 9%. The total interest that he paid was $2160. How much money did he borrow?

asked
User AMA
by
8.9k points

1 Answer

6 votes

He borrowed $24,000.

answered
User Chad Carisch
by
7.8k points
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