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Fittoniya [83]
3 years ago
13

How do we find the rate of a loan if the total payment is $1,235. The loan was $800 in 5 years

Mathematics
1 answer:
garik1379 [7]3 years ago
7 0
$1235-$800=$435 thus the I which is the simple interest
:I=PRT all over 100
435=800(R) (5)all over 100
43500=4000R
:R=10.88%
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Answer:

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Step-by-step explanation:

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LenaWriter [7]

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Step-by-step explanation:

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