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26 October, 03:23

A $1,500 loan has an annual interest rate of 4 1/4% on the amount borrowed. how much time has elapsed if the interest is now $127.50?

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  1. 26 October, 03:26
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    1500 x 0.0425 = $63.75 (for 1 year)

    127.50 / 63.75 = 2 Years
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