SOLUTION: Brendan took out a loan for 3 years. The interest rate was 6%, not compounded.The amount of interest he paid was $135. How much did he borrow?
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Question 827098: Brendan took out a loan for 3 years. The interest rate was 6%, not compounded.The amount of interest he paid was $135. How much did he borrow?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
135/3=45 each yr
45/0.06=$750 borrowed
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