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A $3000 loan has an annual interest rate of 6.6% on the amount borrowed. How much time has elapsed if the interest is now $1386?

A $3000 loan has an annual interest rate of 6.6% on the amount borrowed. How much time has elapsed if the interest is now $1386?
asked 13.3k views
24 votes
A $3000 loan has an annual interest rate of 6.6% on the amount borrowed. How much time has elapsed if the interest is now $1386?

asked
User Debobroto Das
by
8.6k points

1 Answer

6 votes

Answer:

7

Explanation:

time=interest

P*R

time=1386*100

6.6 * 3000

time=7

answered
User Patrick Balada
by
8.7k points
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