Posted by Tammie on Friday, August 3, 2012 at 5:37pm.
A car dealer will sell you a used car for 5,107 with 107 down and payments of $152.92 per month for 48 months. What is the simple interest rate?

Algebra  Ms. Sue, Friday, August 3, 2012 at 5:47pm
(152.92 * 48)  5,000 = 2,340.16
I = PRT
2,340.16 = 5,000 * R * 4
2,340.16 = 20,000R
2,340.16/20,000 = R
0.117 = 11.7% = R
Answer This Question
Related Questions
 Algebra  A car dealer will sell you a used car for $5709 with $709 down and ...
 ALGEBRA  A car dealer will sell you a used car for $6,162 with $162 down and ...
 ALGEBRA  A car dealer will sell you a used car for $8,734 with $734 down and ...
 ALGEBRA  A car dealer will sell you a used car for $5,478 with $478 down and ...
 Math  A car dealer will sell you a used car for $6,664 with $664 down and ...
 math  A car dealer will sell you a used car for $8,544 with $544 down and ...
 MATH  A car dealer will sell you a used car for $5,238 with $238 down and ...
 MATH  A car dealer will sell you a used car for $5,430 with $430 down and ...
 math  A car dealer will sell you a used car for $6,298 with $798 down and ...
 Algebra  A car dealer will sell you a used car for $6,980 with $980 down and ...
More Related Questions