Ask Question
7 August, 19:02

James borrows $4200 to pay his college tuition. He signs a 5 year simple interest loan. If the monthly payments are $78.40, what is the interest rate on the loan?

A) 2%

B) 2.4%

C) 3%

D) 3.2%

+4
Answers (1)
  1. 7 August, 19:05
    0
    The interest rate should be C 3%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “James borrows $4200 to pay his college tuition. He signs a 5 year simple interest loan. If the monthly payments are $78.40, what is the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers