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7 February, 07:57

My cousin borrowed $18,000 for a new car loan for 6 years. He told me that at the end of the loan, he had paid $25,560 for the interest and principal. What was the rate of the loan?

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  1. 7 February, 08:43
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    6.0185%

    Don't ask how I got it. Just round to whatever decimal place you find appropriate.
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