Hi rakan-rakan. Jamerra received a $3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate on the car loan?

1

Jawapan

2016-06-24T23:43:39+08:00
450 divided by 3000= 0 point 15
                                = 15%