MATH

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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?

  • MATH -

    0.002 = 0.20%,
    Ray's Rate = 6.4% - 0.2% = 6.2%.

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