A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows $25,000 for 4 years with a simple interest rate of 1.8%. Determine the amount of money the woman must repay after 4 years.
A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows $25,000 for 4 years with a simple interest rate of 1.8%. Determine the amount of money the woman must repay after 4 years.
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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![A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business
The woman borrows $25,000 for 4 years with a simple interest rate of 1.8%. Determine the amount of money the
woman must repay after 4 years.
The woman must repay $
Gra](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdff89607-66f5-4cb4-8e83-4a60bfa7ae5f%2Fa8978027-35f3-43bf-a3bc-54f228d80a58%2F6p5fg86_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business
The woman borrows $25,000 for 4 years with a simple interest rate of 1.8%. Determine the amount of money the
woman must repay after 4 years.
The woman must repay $
Gra
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