Asked by Bo

the interest rate on car loans increase from 8% to 9%. Although this is a rise of only 1 percentage point, you will be paying ____% more in interest on your loan.

If your interest payment was $400, what would it be with the increase?
Answered by Steve
it has increased by 1/8 = 12.5%
Answered by Bo
please explain to me how you got the answer.
Answered by Bo
what is the increase in $400.00
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