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A newspaper advertisement offers a $9,000 car for nothing down and for 36 easy monthly payments of $317.50 what is the simple interest rate?

Respuesta :

Polyblock

Answer:

27%

Step-by-step explanation:

Let x = simple interest rate

$9000 / 36 = $250 per month

$250x = 317.5

Divide both sides by 250

250x/250 = 317.5/250

x = 1.27

Let's check

250 x 1.27 = 317.5

If you were to multiply by .27 then it would just go down

250 x .27 = 67.5

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