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James paid off the loan on his motorboat in the year 2006. He originally borrowed $6,500 to buy the boat, but with simple annual interest, he discovered that he paid a total of $8,775 over the life of the loan. If James annual interest rate was 7%, in what year did his loan begin?

Respuesta :

MohammadHaisam
Find Interest by 8775-6500 then Use the formula I=PRT divided by 100 to find the time(T) subtract these years/time from 2006 and u will get the answer.Regards :)
GlassyGold

Answer:

its 2001 hope this is helpfull! :D

Step-by-step explanation:

dont have one

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