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BartSMP [9]
3 years ago
8

Scott took out a 4-year car loan for $5,500. He paid back a total of $7,370. What interest rate did he pay for this loan?

Mathematics
1 answer:
elena-14-01-66 [18.8K]3 years ago
7 0
Amount of car loan taken by Scott = $5500
Amount of loan paid back by Scott = $7370
Then
Amount of money paid as interest by Scott = (7370 - 5500) dollars
                                                                     = 1870 dollars
Then
Percentage of interest given for the car loan = (1870/5500) * 100
                                                                       = 1870/55
                                                                       = 34 percent
So Scott had to pay a total interest rate of 34% in the four years.I hope the procedure is simple enough for you to understand and solve future problems.
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Hey there!

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6 0
3 years ago
Read 2 more answers
Please answer. I think its B because negative × negative = positive. So -5 × -5 = 25. BUT...since the exponent is negative, mayb
yanalaym [24]
Evaluate a^2 where a = -5:
a^2 = (-5)^2
Hint: | Evaluate (-5)^2.
(-5)^2 = 25:
Answer:  25


7 0
3 years ago
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