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Kyle paid $96 in interest to borrow $7200 for 4 months. What annual interest rate did Kyle pay? A. 1.33% B. 4% C. 5.33% D. 16%

Kyle paid $96 in interest to borrow $7200 for 4 months. What annual interest rate did Kyle pay? A. 1.33% B. 4% C. 5.33% D. 16%
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Kyle paid $96 in interest to borrow $7200 for 4 months.

What annual interest rate did Kyle pay?

A.
1.33%

B.
4%

C.
5.33%

D.
16%

User Susmit Agrawal
by
8.3k points

1 Answer

2 votes
The answer is A. 1.33%
User Ista
by
8.3k points
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