# pre-algebra

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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 -

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 -

oh you don't have to worry about it.

• pre-algebra -

IR = (\$96 * 60 - \$4800) / 5 / \$4800 * 100% = 4%

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