Answer:
1).
Difference = $6
Interest rate= 4.03%
2).diffrence = $97
Interest rate = 14.37%
3). Difference = $7
Interest rate= 4.67%
4). difference= 191
Interest rate= 9.6%
5). Difference= 2.25
Interest rate= 3%
6). Difference=$ 302
Interest rate=9.12%
Step-by-step explanation:
1).$10 per months for 15 months
= 10*15=$150
PLus a down payment of $5= $155
Interest = 155-149= $6
Interest rate = 6/149*100= 4.03%
2.)$120.00 per month for 6 months
= 120*6=$ 720
Plus a down payment of $52=$772
Interest= 772-675= $97
Interest rate = 97/675 *100= 14.37%
3). $12.00 per month for 11 months
= 12*11= 132 plus down payment of $25
= $157
Interest= 157-150= $7
Interest rate=7/150 *100= 4.67%
4).$74.00 per month for 24 months
= 74*24=$1776
Plus a down payment of $400=$ 2176
Interest= 2176-1985= 191
Interest rate= 191/1985*100= 9.6%
5).$4.75 per week for 11 weeks
= 4.75*11=$52.25
Plus a down payment if $25
= 25+52.25=$ 77.25
Interest= 77.25-75= 2.25
Interest rate= 2.25/75 *100= 3%
6).$300 a month for 10 months
= 300*10= $3000
Plus a down payment of $600
= $3600
Interest=3600-3298= 302
Interest rate= 302/3298 *100=9.12%
