math

Loan amount = $10,000
Monthly payments = $258.50
Time of loan contract = 5 years
True annual interest rate (to the nearest tenth) =

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asked by wilton
  1. 258.50 * 60 = 15,510

    15,510 - 10,000 = 5,510 total interest

    I = PRT

    Solve for R.

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