SOLUTION: what is the time of the loan if: Balance =$5000 Principal= $4000 Interest rate = 5%

SOLUTION: what is the time of the loan if: Balance =$5000 Principal= $4000 Interest rate = 5%

Algebra.Com

Question 392433: what is the time of the loan if:
Balance =$5000
Principal= $4000
Interest rate = 5%
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=prt
I/pr=t
1000/4000*.05=
1000/200=5 yrs
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