document.write( "Question 444181: Richard took a loan of $10,000 at a rate of 7%. If he paid $1,400 in interest, how many years did it take him to pay back the loan? \n" ); document.write( "
Algebra.Com's Answer #306248 by mananth(16946)![]() ![]() You can put this solution on YOUR website! Rate, r = 7%=0.07 \n" ); document.write( "Loan, p =10,000 \n" ); document.write( "Interest, i = 1400 \n" ); document.write( "i=p*r*t \n" ); document.write( "1400=10000*0.07*t \n" ); document.write( "1400/(0.07*10000)=t \n" ); document.write( "t= 2 years \n" ); document.write( " |