Jamerra receive plans on paying the end of 2 yea $450 in interest interest rate on

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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6. $290, 12.5%, 6 months
045
Jamerra received a $3,000 car loan. She
plans on paying off the loan in 2 years. At
the end of 2 years, Jamerra will have paid
$450 in interest. What is the simple
interest rate on the car loan? (Example 5)
Transcribed Image Text:6. $290, 12.5%, 6 months 045 Jamerra received a $3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 years, Jamerra will have paid $450 in interest. What is the simple interest rate on the car loan? (Example 5)
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