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Sam loaned Sofia $5000 at an interest rate of 6%. She repaid him $5750 to cover the principal and interest. How long did she borrow the money?
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1 vote
Sam loaned Sofia $5000 at an interest rate of 6%. She repaid him $5750 to cover the principal and interest. How long did she borrow the money?

User MBlanc
by
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1 Answer

3 votes

Answer:

sofia had the money for 2 and a half years.

Explanation:

6% = 300 a year in interest

User Illiana
by
5.3k points
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