Mathematics

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)

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

You Might be Interested in

Tammy Has 61 hockey cards and 5 cards on each page. How many pages can tammy complete?

A box office sold reserved tickets for $10 and general admission tickets for $5. The total value of the tickets $630. If 103 were sold, how many of them were general admission tickets?

You have been given the task of transporting 3000 apples, 1000 miles from apple land to bananaville. your truck can carry 1,000 apples at a time.

Mr. gareth owns a toy-manufacturing company. which of these items in his company is an intermediate good? a. toy plane b. doll house c. plastic sheets

If p+q = 4, q+r = - 2, r+p = 3 then p+q+r = ? a) 2/5 b) 5/2 c) 6/2 d) 5 e) 6

New Questions in Mathematics

Tanya drove 312 hours and used 13 tank of gas. For how long could Tanya drive using 12 tank of gas? In simplest form.

What are you finding when you take the derivative of a function?

What's an example of a 12th degree trinomial

2x/3+3y/4=11/12, x/3+7y/18=1/2

What is the 10th term of the sequence 2, 8, 32, 128