Sanjay borrowed $7,000 at a simple interest rate of 3% per year. After a certain number of years he had paid $840 in interest altogether. How many years was that?

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asked Jun 6, 2021 233k views

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Sanjay borrowed $7,000 at a simple interest rate of 3% per year. After a certain number of years he had paid $840 in interest altogether. How many years was that?

Mathematics
high-school

Ian Newson asked

by Ian Newson

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2 Answers

2 votes

Answer:

4 years should be the correct answer! I did the math!

NithinTa answered Jun 6, 2021

by NithinTa

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1 vote

Answer:

4 years

Explanation:

7000*0.03=210

840/210=4

Getsomepeaches answered Jun 10, 2021

by Getsomepeaches

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