SOLUTION: Find the term of a loan of $225 at 3.5% if the simple interest is $63.

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Question 917034: Find the term of a loan of $225 at 3.5% if the simple interest is $63.

Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
Simple Interst
I = Prt
63 = 225(.035)t
8yr = t
An 8 year term