The simple interest on a $2,000 loan at 2% per year amounted to $120. At what time t did the loan mature (in years)? t = yr

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 8E
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The simple interest on a $2,000 loan at 2% per year amounted to $120. At what time t did the loan mature (in years)? t = yr
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