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Anton [14]
3 years ago
12

Ryker wants a new car. The dealership offers him a loan at 9% annual interest for 6 years. If Ryker wants to do some calculation

s on his own, what monthly interest rate should he use?
Enter your answer as a percent.


Do not round.
Mathematics
1 answer:
Contact [7]3 years ago
3 0

The monthly interest rate is 0.75%

<u>Step-by-step explanation:</u>

The rate of interest= 9%

Total time = 6years

Interest rate per month = 9/12

= 0.75%

Monthly payment =cost of the car + 0.75% of cost of car

Interest per month is 0.75%

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