A man needed money for college. He borrowed ​$7,000 at 16​% simple interest per year. If he paid ​$840 ​interest, what was the duration of the​ loan?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A man needed money for college. He borrowed

​$7,000

at

16​%

simple interest per year. If he paid

​$840

​interest, what was the duration of the​ loan?

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The duration of the loan is ___ a year. 

(round to 2 decimal places as needed)

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