Frank borrowed $800 from a lender that charged simple interest at an annual rate of 4%. When Frank paid of the loan, he paid $128 in interes

Question

Frank borrowed $800 from a lender that charged simple interest at an annual rate of 4%. When Frank paid of the loan, he paid $128 in interest How long was the loan for, in years?

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Bella 2 weeks 2021-09-10T17:30:20+00:00 1 Answer 0

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    2021-09-10T17:31:36+00:00

    Answer:

    4 years

    Step-by-step explanation:

    800 x 0.04 = 32

    128 ÷ 32 = 4

    4 years

    4% = 0.04 because of 4 ÷ 100

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