A loan of $ 8000 was paid back in 3 years of monthly installments $400. the interest on the loan as a percentage was?

1 answer:

8 0

Answer:

43.2%

Explanation:

When taking the sum and dividing it between 36 mo aka 3yrs, you get 222.222222. And the difference is 43.2%

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A loan of $ 8000 was paid back in 3 years of monthly installments $400. the interest on the loan as a percentage was?​