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Matthew borrowed $24,000 dollars to buy a new truck. After 5 years, he paid $7,500 in simple interest. What was the interest rate on his truck loan?​

Matthew borrowed $24,000 dollars to buy a new truck. After 5 years, he paid $7,500 in simple interest. What was the interest rate on his truck loan?​
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Matthew borrowed $24,000 dollars to buy a new truck. After 5 years, he paid $7,500 in simple interest. What was the interest rate on his truck loan?​

User Alim Giray Aytar
by
8.5k points

1 Answer

5 votes

Answer:

P=24000

Interest = 7500

User Dylan Kirkby
by
8.3k points
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