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Gregory borrowed $7,500 from the bank with a 6% annual interest rate to buy a new car. It cost him $10,650 to repay the loan. How many years did Gregory spend repaying his loan?…

Gregory borrowed $7,500 from the bank with a 6% annual interest rate to buy a new car. It cost him $10,650 to repay the loan. How many years did Gregory spend repaying his loan?…
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5 votes
Gregory borrowed $7,500 from the bank with a 6% annual interest rate to buy a new car. It cost him $10,650 to repay the loan. How many years did Gregory spend repaying his loan? (I’m offering 16 points so whoever’s to answer, please hurry!)

asked
User Marcelo De Polli
by
8.4k points

1 Answer

3 votes

Answer:

7 years

Step-by-step

7500 x 0.06 = 450

10650 - 7500 = 3150/450

7 years

answered
User Rohit Suvagiya
by
8.4k points
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