23.03.2023 - 16:32

A $5000 loan was repaid with 8% simple annual interest. A total of $5350 was paid. How long had the loan been outstanding?

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A ${eq}5000 {/eq} loan was repaid with {eq}8 {/eq}% simple annual interest. A total of ${eq}5350 {/eq} was paid. How long had the loan been outstanding?

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