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jeyben [28]
3 years ago
5

If Sheila paid $797.50 in interest on a 5 year loan of $5,800 for her first car, what was the interest rate? (Make sure you’ve c

hanged the decimal to a %)
Mathematics
2 answers:
sveta [45]3 years ago
8 0
5800 times 5 times x percent=797,50
x=797 divide by 5800 times 5 equals 797.5 divided by 29000=0,0275
=2,75 percent

Vsevolod [243]3 years ago
3 0
I = Prt
r = I/Pt
given
I = <span>$797.50
P = </span><span>$5,800
t = 5

so
</span>r = I/Pt
r = 797.50 /  (5,800 x 5)
r = 797.50 / 29,000
r = 0.0275
r = 2.75%

answer
r = 2.75%
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