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16 April, 16:10

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?

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  1. 16 April, 19:40
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    (So "/" will basically mean divide)

    450/3000=0.15

    0.15*100=15% rate
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