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Your aunt bought a new car. After three months of car payments she owed a total of $22,275 to the bank for the car loan. After 12 months, she owed $18,900 to the bank for the car loan. What was her average payment rate on the principal of the car loan during this time?

User Borodin
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2 Answers

5 votes

Answer:

$375

Explanation:

User Markbernard
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0 votes
(22275-18900)/(12-3) =3375/9 =375
User Prcu
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