Thalia365871
Thalia365871 Thalia365871
  • 13-12-2017
  • Mathematics
contestada

Jamerra received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate on the car loan?

Respuesta :

ym0202
ym0202 ym0202
  • 13-12-2017
450/2 = 225 
225/3000 =0.075 
0.075 x 100 = 7.5
7.5%
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