anonymous
  • anonymous
Henry invests $5000 in a mutual fund with an annual interest rate of 7.5%. He also has a 4-year, $10,000 loan at 3.75%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan?
Finance
chestercat
  • chestercat
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anonymous
  • anonymous
5000 * .075 = 10000 * 0.0375 So the interest are always equal.

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