Asked by JOY
DESHAWN TOOK A LOAN OUT FOR $1,500 AT 6.4% ANNUAL INTEREST.HIS FRIEND RAY GOT A $2,000 LOAN FROM A DIFFERENT BANK AT A RATE THAT WAS 0.002 LOWER THAN DESHAWN'S. WHAT PERCENT INTEREST WAS THE BANK CHARGING FOR RAY'S LOAN?
Answers
Answered by
Henry
0.002 = 0.20%,
Ray's Rate = 6.4% - 0.2% = 6.2%.
Ray's Rate = 6.4% - 0.2% = 6.2%.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.