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miskamm [114]
3 years ago
11

Mr. Jamison wants to borrow $375,000 to

Mathematics
1 answer:
notsponge [240]3 years ago
7 0

Answer: The interest rate can he afford to pay on his  | loan =7.5%

Step-by-step explanation:

Given: Principal amount = 375,000

Interest amount per year =  $28,125

Interest percentage = \dfrac{\text{Interest}}{\text{Principal}}\times100\%

=\dfrac{28125}{375000}\times100\%\\\\=7.5\%

Hence, The interest rate can he afford to pay on his  | loan =7.5%

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