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2 years ago

12

Sofia received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Sofia will have paid $450 i

n interest. What is the simple interest rate on the car loan?

1 answer:

poizon [28]2 years ago

3 0

(So “/” will basically mean divide)
450/3000=0.15
0.15*100=15% rate

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