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Find each commission or sales tax to the nearest cent

Algebra
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Dena borrowed $7500  buy a used car. The credit union charged 9% interest per year. She paid $2025 in interest. For what period of time did she borrow the money?

Nov 25th, 2014

Interest per year on 7,500 = 0.09 x 7,500 = 675

So period = total interest/annual interest = 2025/675 = 3 years

Answer: 3 years

Nov 25th, 2014

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