Posted by **Cassandra** on Thursday, March 15, 2012 at 6:03pm.

thomas borrowed $4800 to buy a new car. he will be paying $96 each month for the next 60 months. find the simple interest rate for his car loan.

- pre-algebra -
**☻i♥zee☻**, Thursday, March 15, 2012 at 6:08pm
oh, i may be able to help. Im learning this right now ubt i'm in the 6th. give me a sec and i can try.

- pre-algebra -
**Cassandra**, Thursday, March 15, 2012 at 6:10pm
oh you dont have to worry about it.

- pre-algebra -
**☻i♥zee☻**, Thursday, March 15, 2012 at 6:10pm
IR = ($96 * 60 - $4800) / 5 / $4800 * 100% = 4%

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