Question

Another company will lend Maya’s older sister $4,000. Every month, she will pay $11.88 in interest. What is the interest rate, rounded to the nearest tenth of a percent, for 1 year.

Answer 1

11.88 multiplied by 12 is 142.56, 142.56 rounded to the nearest tenth is 142.60.

Answer 2

120

Explanation:

$11.88 rounded to the nearest tenth is 10 and there are 12 months in one year so 10 x 12 = 120