SOLUTION: On July 13, 2016, $1700 was borrowed at an interest rate of 9.25%. On what date was the loan repaid if the amount of accrued interest was $80.13?

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Question 1126481: On July 13, 2016, $1700 was borrowed at an interest rate of 9.25%. On what date was the loan repaid if the amount of accrued interest was $80.13?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+80.13+=+1700%2A.0925t+
+80.13+=+157.25t+
+t+=+.5096+
+.5096%2A12+=+6.1148+
6 months puts the date in Jan ( 31 days in Jan )
+.1148%2A31+=+3.56+
I get Jan 4th, 2017
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