imjaiayourenot05 imjaiayourenot05
  • 09-08-2021
  • Mathematics
contestada

lilly just paid off a 400$ loan. she had to pay 60 in interest at a simple annual interest rate of 5%. how many years did lily have this loan?

•A.) 2

•B.) 3

•C.) 4.5

•D.) 5

Respuesta :

nyi99547
nyi99547 nyi99547
  • 14-08-2021

Answer:

B.) 3

Step-by-step explanation:

Interest = prinipical ^ interest rate ^ year

60 = 400 ^ 5% ^ year

year = 60/400^5%

3years

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