Register

James borrows $4200 to pay his college tuition. He signs a 5 year simple interest loan. If the monthly payments are $78.40, what is the interest rate on the loan?

James borrows $4200 to pay his college tuition. He signs a 5 year simple interest loan. If the monthly payments are $78.40, what is the interest rate on the loan?
227k views
5 votes
James borrows $4200 to pay his college tuition. He signs a 5 year simple interest loan. If the monthly payments are $78.40, what is the interest rate on the loan?

User Ricardo Anjos
by
8.0k points

1 Answer

7 votes
2.8 present interest rate$$$%%%
User JasonP
by
7.4k points
← Prev Question Next Question →

Related questions

User David Lee
asked Oct 11, 2018 46.2k views
A students tuition was $4200. A loan was obtained for 6/7 of the tuition. How much was the loan ?
David Lee asked Oct 11, 2018
by David Lee
7.1k points
2 answers
5 votes
46.2k views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
Link Copied!