jamerra receevied a $3000 car loan. she plans on paying off the car loan in 2 years at the end of 2 years, jamerra will have pai
d $450 in intrest. What is the simple interest rate on the car loan
1 answer:
the answer is :
(450/2) = $225 simple interest
225 / 3000 = 0.075 = 7.5%
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