Ask Question
25 December, 04:52

Sofia received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Sofia will have paid $450 in interest. What is the simple interest rate on the car loan?

+2
Answers (1)
  1. 25 December, 05:11
    0
    (So "/" will basically mean divide)

    450/3000=0.15

    0.15*100=15% rate
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Sofia received a 3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Sofia will have paid $450 in interest. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers