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Taylor borrowed $5,000 from a bank at 18% interest rate for 66 months. Find the amount that Taylor will owe the bank after 66 months.

User Neal Davis
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2 Answers

4 votes

Answer:

59400

Explanation:

User MattCrum
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4.3k points
3 votes

Answer: 59400 (I think sorry if it's wrong)

Explanation:

You need to find the percentage so you have to set up the equation...

(Part goes over the whole but we need to find the part so it will be x)

(The whole number does under the part which would be 5,000 in the equation)

(Set it equal to another fraction and put the percentage on the top of the new fraction)

(YOU ALWAYS PUT 100 UNDER THE PERCENTAGE)

x. 18

---. =. ------

5,000. 100

Cross multiply to get ..

100x=90,000

X=900

900x66 = 59400

User Manoj I
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