MariaIZweird7495 MariaIZweird7495
  • 17-01-2020
  • Social Studies
contestada

Sue and Joe paid a total of $6,600 in interest payment for the year. They borrowed $66,000. What is their interest rate?
a. .1b. .11c. .12d. .125

Respuesta :

DeniceSandidge DeniceSandidge
  • 20-01-2020

Answer:

interest rate = 10%

Explanation:

given data

total interest payment =  $6,600

borrowed =  $66,000

to find out

interest rate

solution

we get here interest rate that is express as

interest rate = [tex]\frac{interest\ payment}{borrow\ amount}[/tex]   ...........1

put here value we get

interest rate = [tex]\frac{6600}{66000}[/tex]

interest rate = 0.10

interest rate = 10%

Answer Link

Otras preguntas

please help me answer this!!!! 15 points
An air plane moves at a constant speed of 120 miles per hour for 3 hours. How far does it go?
research benzene and list two modern-day commercial uses for his chemical​
a fraction that is a terminating decimal between 1.25 and 1.5​
CAN SOMEONE HELP PLSSS
Is a computer screen energy transfer or transformation?
PLEASE HELPPPPPPP A garden measures 6 feet by 7 feet. A gravel path of constant width is placed around the garden so that the total area is 72 square feet. What
2000 tickets were sold in an exhibition on Saturday. The cost of an adult ticket is $4 and a child’s ticket is $2. The total amount of revenue collected was $64
which angle below is an acute angleA.B.C.D.​
(4)^2(-3)^4 ________ 2^6