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MrRissso [65]
3 years ago
12

Cassandra obtains a loan with simple interest to buy a car that costs $8,500. If Cassandra pays $1,020 in interest during the fo

ur-year term of the loan, what was the rate of simple interest? I need it in percent. For example 74%.
Mathematics
2 answers:
Fed [463]3 years ago
7 0

Answer:

3%

Step-by-step explanation:

attashe74 [19]3 years ago
3 0

Answer:

3%

Step-by-step explanation:

I = Prt

    I = 1020

    P = 8500

    t = 4

1020 = (8500)(4)r

1020 = 34000r

r = 0.03

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