iceColdAndrea iceColdAndrea

21-12-2022
Mathematics

Answered

James borrows $4, to pay his college tuition. He signs a 5-year simple interest loan. If the monthly payments are $78.40, what is the interest rate on the loan?

A. 2%
B. 2.4%
C. 3%
D. 3.2%

Answer :

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