Ask Question
21 July, 14:00

An X-ray machine for animals costs$125,000. If the loan is for 10 years, an the interest paid is $65,625, what is the interest rate on the loan

+2
Answers (1)
  1. 21 July, 17:25
    0
    The answer is 5.25%.

    $65,625/10yrs=$6,562.50 per a year.

    6,562.5/125000 =.0525 which translates to 5.25%.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An X-ray machine for animals costs$125,000. If the loan is for 10 years, an the interest paid is $65,625, what is the interest rate on the ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers