College Algebra

Dominic pays 7%interest on his $22000 college loan and 13% interest on his $21000 car loan. What average interest rate does he pay on the total
$43000 he owes? Round your answer to the nearest tenth of a percent.

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  1. interest paid = .07(22000) + .13(21000)
    avg rate of interest = (interest paid)/43000 * 100%

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