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17 August, 17:00

Mary borrows $5,000 dollars from her mother at a 3% simple interest rate and pays her $600 in interest after t years.

What is the value of t?

2

3

4

5

+2
Answers (1)
  1. 17 August, 17:23
    0
    4

    Step-by-step explanation:

    The simple interest per year is 3% times $5000 which is 150 dollars.

    Now, we have the equation 150x = 600.

    We solve and get x = 4
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