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Dave borrowed ​$7400 from his uncle with simple interest of ​6% and eventually repaid ​$8288 ​(principal and​ interest). What was the time period of the​ loan?

Dave borrowed ​$7400 from his uncle with simple interest of ​6% and eventually repaid ​$8288 ​(principal and​ interest). What was the time period of the​ loan?
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Dave borrowed ​$7400 from his uncle with simple interest of ​6% and eventually repaid ​$8288 ​(principal and​ interest). What was the time period of the​ loan?

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User Megabeets
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1 Answer

7 votes

The time period of the loan was 1 year.

answered
User Gkemp
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