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A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?
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A vet borrows $12,000 for 4 years. The total interest paid was $875. What was the interest rate on the loan?

User Phocs
by
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2 Answers

4 votes

Answer:

26,82% aas the imvest

Explanation:

jejeje

User Max Worg
by
8.0k points
4 votes
12000+875=12875 the total he paid
12000*x/100*4=12875
480x=12875
x=12875/480
x=26,82 %
User Koen Van Der Linden
by
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