The interest rate on a car loan has decreased 35.1% over the last 10 years and is now 9.7% what was the rate 10 years ago

Question

asked Jun 28, 2024 30.3k views

1 Answer

Anders Gram Mygind · Answer 1 · 2024-07-05T15:28:27+0000

Answer: The interest rate on a car loan would've been 44.8%

Explanation:

You have to add both percentages together to find out the rate 10 years ago.