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22 July, 17:00

Amount amount financed equal 1750 number of payments per year is 12 number of payment equals 336 total interest equals $300 what's the interest percent

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  1. 22 July, 17:17
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    I total = 300

    I total = P*i*n

    i = annual interest rate

    i = Itotal (P*n)

    i = 300 / (1750*3); n = 3 years

    i = 5.71%

    Monthly interest = 300 / (1750 * (3*12))

    n = 3 years * 12 months

    Monthly interest = 0.47%
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