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what is the interest rate if i borrow $16,500 and I pay $665 a month for 3 years

9 years ago

Answers

Ms. Sue
665 * 36 = 23,940

23,940 - 16,500 = 7,440

I = PRT

7,440 = 16,500 * R * 3

7,440 = 49,500 * R

0.15 = 15% = R

9 years ago

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