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27 March, 02:02

A $1,500 loan has an annual interest rate of 4.25% on the amount borrowed. How much time has elapsed if the interest is now $127.50?

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  1. 27 March, 04:03
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    1) 1500*0.0425=63.75

    2) 127.50:63.75=2

    Answer is 2 year.
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