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Sam borrows from the bank $12,000 to buy a car paying in simple interest $ 2,844 per year. Sam paid the loan in 3 years, what is the annual interest rate on the loan?
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Sam borrows from the bank $12,000 to buy a car paying in simple interest $ 2,844 per year. Sam paid the loan in 3 years, what is the annual interest rate on the loan?

User FriendFX
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1 Answer

3 votes

Answer:

3,468

Explanation:

i multiplied 2,844 by 3 and got 8,532 i then subtracted that from 12,000 and got 3,468

User Javier Fajardo
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