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2. If Sheila paid $1600 in interest on a year loan of $6,400 for her first car, 25 points what was the interest rate? [R = 1 + (PT)] Help please it’s due today

2. If Sheila paid $1600 in interest on a year loan of $6,400 for her first car, 25 points what was the interest rate? [R = 1 + (PT)] Help please it’s due today
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2. If Sheila paid $1600 in interest on a year loan of $6,400 for her first car, 25 points

what was the interest rate? [R = 1 + (PT)]
Help please it’s due today

User Pradyut Bhattacharya
by
8.4k points

1 Answer

9 votes

Answer:

25% annual interest rate

Explanation:

$1600 ÷ $6400 = 0.25 aka 25%

User Roi Divon
by
8.4k points
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