msdani20183 msdani20183

27-01-2021
Mathematics

contestada

I take out a loan for $120,000 at a 5% interest rate. After how many years will I owe $54,000 in interest?

Respuesta :

achoiceberry achoiceberry

28-01-2021

Answer:

9 years

Step-by-step explanation:

120 000 times .05 = 6000

54 000 / 6000 = 9

6000 times 9 = 54000

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