Seudónimo Seudónimo

27-03-2017
Mathematics

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James paid off the loan on his motorboat in the year 2006. He originally borrowed $6,500 to buy the boat, but with simple annual interest, he discovered that he paid a total of $8,775 over the life of the loan. If James annual interest rate was 7%, in what year did his loan begin?

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snowishere snowishere

02-04-2017

5 years as 6500 at a rate of 7% or 455 more dollars a year has to cover a monetary gap of $2275. divide 2275 by 455 and get a nice even 5 years

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ianslatosch008 ianslatosch008

01-04-2021

Answer:

2001

Step-by-step explanation:

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