A car dealer will sell you a used car for $5709 with $709 down and payments of 233.75 per month for 24 months. What is the simple interest rate? Rounded to the nearest tenth.

Po = $5709 - $709 = $5000.

P = 233.75 * 24 = $5610.
I = 5610 - 5000 = $61o.

I = Po*r*t = 610.
5000*r*2yrs = 610
r = 610/10,000 = 0.061 = 6.1% = APR.

To find the simple interest rate, we need to calculate the total amount paid for the car including the down payment and monthly payments, and then determine the interest.

First, let's calculate the total amount paid for the car. The down payment is $709, and there are 24 monthly payments of $233.75. So, the total amount paid is:

Down payment + (Monthly payment x Number of months)
= $709 + ($233.75 x 24)
= $709 + $5610

The total amount paid for the car is $6,319.

Next, let's calculate the interest. The interest is the difference between the total amount paid and the price of the car. In this case, the price of the car is $5,709. So, the interest is:

Total amount paid - Price of the car
= $6,319 - $5,709
= $610

Finally, let's calculate the interest rate. The interest rate is the ratio of the interest to the price of the car, multiplied by 100 to get the percentage:

Interest rate = (Interest / Price of the car) x 100
= ($610 / $5,709) x 100

Calculating this, we get:

Interest rate = 0.1068 x 100
= 10.68%

Therefore, the simple interest rate is approximately 10.7% (rounded to the nearest tenth).