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25 September, 09:45

A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?

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  1. 25 September, 09:55
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    12000+875=12875 the total he paid

    12000*x/100*4=12875

    480x=12875

    x=12875/480

    x=26,82 %
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