Question

Alexia took out a 12-year loan for $72000 to renovate her home. If her monthly payments are $680, what is the interest rate?

Answer 1

Answer:8%:)

Explanation:

Answer 2

intrest equation

I/PT = R

$680 / $72,000 x 12 years = R

$680 / $864,000 = R

7.8703 = R

or rounded 8%

Explanation: