GigiD7124 GigiD7124

19-12-2022
Mathematics

contestada

James paid off the loan on his motorboat in the year 2006. He originally borrowed $6500 to buy the boat, but with simple annual interest, he discovered that he paid a total of $8775 over the life of the loan. If James’s annual interest rate was 7%, in what year did his loan begin?

15pts!

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