I take out a loan for $120,000 at a 5% interest rate. After how many years will I owe $54,000 in interest?

asked Dec 10, 2022 127k views

13 votes

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5 votes

Answer:

9 years

Explanation:

120 000 times .05 = 6000

54 000 / 6000 = 9

6000 times 9 = 54000

Nelluk answered Dec 14, 2022

4.1k points

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