Register

Jamerra received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate …

Jamerra received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate …
42.2k views
0 votes
Jamerra received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate on the car loan?

User Mikita Manko
by
8.2k points

1 Answer

2 votes
450/2 = 225
225/3000 =0.075
0.075 x 100 = 7.5
7.5%
User Valentino
by
9.2k points
← Prev Question Next Question →

Related questions

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

Categories

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
Link Copied!