Dilacey takes out a loan from the bank that charges a 10% interest rate. After 18 months, she accrues $420 in simple interest. How much was the loan that Dilacey took out?

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asked Jun 9, 2022 208k views

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Dilacey takes out a loan from the bank that charges a 10% interest rate. After 18 months,

she accrues $420 in simple interest. How much was the loan that Dilacey took out?

Mathematics
college

Drinkmystery asked

by Drinkmystery

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Answer:

Dilacey took a loan of $2800

Explanation:

P=(Simple Interest×100)/R×T

P=$420×100/10×1½

P=$42000/15

P=$2800

Michal Klouda answered Jun 15, 2022

by Michal Klouda

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