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Ede4ka [16]
3 years ago
6

You take out a ​$22,500 car loan at 9.6​% APR What is the monthly or periodic interest​ rate?

Mathematics
1 answer:
user100 [1]3 years ago
4 0

Answer:

  0.8%

Step-by-step explanation:

The monthly rate is found by dividing the annual rate by the number of months in a year. There are 12 months in a year, so the monthly rate is ...

  9.6% / 12 = 0.8%

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