Posted by Anonymous on Sunday, August 26, 2012 at 4:16pm.
A car dealer will sell you a used car for $8,544 with $544 down and payments of $272.22 per month for 36 months. What is the simple interest rate? (Round each answer to the nearest tenth.)

math  Ms. Sue, Sunday, August 26, 2012 at 4:33pm
(272.22 * 36)  8,000 = 1799.92
I = PRT
1799.92 = 8,000 * R * 3
1799.92 = 24,000R
1799.92 / 24,000 = R
0.074996 = R
7.5% = R
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