Answered: If you take out a loan for 1,500 with…

If you take out a loan for 1,500 with an interest rate it 3% A) How long would it take to owe double the money? B) How long would it take to owe quadruple the money?

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

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If you take out a loan for 1,500 with an interest rate it 3% A) How long would it take to owe double the money? B) How long would it take to owe quadruple the money?

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