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You bought a car for $24,500. you got a five-year loan for the car. You paid $9187.50 and simple interest. What was your interest rate?

You bought a car for $24,500. you got a five-year loan for the car. You paid $9187.50 and simple interest. What was your interest rate?
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you bought a car for $24,500. you got a five-year loan for the car. You paid $9187.50 and simple interest. What was your interest rate?

User Davis Herring
by
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1 Answer

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5.3 % interest rate...$$$
User Jason Maskell
by
8.2k points
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