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Posted by on Sunday, May 27, 2012 at 10:50am.

A car dealer will sell you a used car for $6,162 with $162 down and payments of $214.67 per month for 36 months. What is the simple interest rate? (Round each answer to the nearest tenth.)

  • ALGEBRA - , Sunday, May 27, 2012 at 11:00am

    214.67*36=7728.12
    7728.12-6000=1728.12
    1728.12/6000=.28802=28.8%

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