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23-11-2020
Mathematics

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Bobby borrowed $500 at 12 percent simple annual interest. He paid back $680 to pay off the loan. How many years did it take Bobby to pay back the loan? 3 4 11 12

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BlueBunny926 BlueBunny926

23-11-2020

Answer:

3 years

500/100×12=60

Total Interest = 680-500 = 180

Total Time = 180/60 = 3

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