Question

If you earned $1000 interest on a loan of $5200

at a yearly interest rate of 2.5%, how many years was the loan for? (Round
to the nearest tenth)

Answer 1

170 years

Explanation:

R/100=2.5%

time= 100=0.025 per year (1/0.025) (5200\1000)-1=168

time=168 years