Ryan took out a 66-month loan to pay for a $28,500 car. If he paid $33,829.50 in total at the end of the loan, find the interest rate.

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Mathematics

Geovanni Zuniga

19 August, 19:21

Ryan took out a 66-month loan to pay for a $28,500 car. If he paid $33,829.50 in total at the end of the loan, find the interest rate.

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Alejandra Grant · Answer 1

28,500 subtracted from 33,829.50 is 5,329.50. Then you divide the difference by the number of months. (5,329.50/66). That dividend would be 80.75. sorry I could not provide further information.