carawebb31 carawebb31

20-01-2022
Mathematics

contestada

A friend of mine borrowed $800 for 3 years. He claims he paid $968 for the interest and principal. What was the rate on the loan?

Respuesta :

WyattCastorena WyattCastorena

20-01-2022

Answer:

56$ per year

Step-by-step explanation:

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arilynne110 arilynne110

13-06-2022

Answer:

7%

Step-by-step explanation:

So basically

I=$800 times 9% times 3 = 216$

$216 + 800 =/ $968

try: $968 - $800=168 (interest paid)

$168 = $800 times r times 3

$ 168 divided by $800 times 3 +r

hope this helps :-)

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