You decide to do some remodeling.  You are looking at borrowing $7500 at the simple interest rate of 2% per year.  You want to pay a maximum of $600 interest.  How long will the loan need to be to meet

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 66SE: Kyoko has 10,000 that she wants to invest. Her bankhas several investment accounts tochoose from,...
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You decide to do some remodeling.  You are looking at borrowing $7500 at the simple interest rate of 2% per year.  You want to pay a maximum of $600 interest.  How long will the loan need to be to meet this maximum interest of $600.00? 

 

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