SOLUTION: april wants to borrow $300 from her father and is willing to pay $8 in interest. Her father wants to charge an interest rate of 4%. How long can april keep
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Question 1145202: april wants to borrow $300 from her father and is willing to pay $8 in interest. Her father wants to charge an interest rate of 4%. How long can april keep Answer by ikleyn(52812) (Show Source):
300 + 0.04*300*t = 308
is your basic equation.
The unknown value is the time " t ", which is "how long . . . ", in years..
From the equation,
0.04*300*t = 8
t = = = of the year, which is about 8 months. ANSWER
