Question

John bought a used truck for $4,500. He made an agreement with the dealer to put $1,500 down and make payments of $350 for the next 10 months. The extra cost paid by taking this deal is equivalent to what actual yearly rate of interest?
A. 36%
B. 63%
C. 3.6%
D. 33%

Answer 1

I think it is D But it could also be A