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Ryker wants a new car. The dealership offers him a loan at 9% annual interest for 6 years. If Ryker wants to do some calculations on his own, what monthly interest rate should he use?


Enter your answer as a percent.


Do not round.

Respuesta :

bhuvna789456

The monthly interest rate is 0.75%

Step-by-step explanation:

The rate of interest= 9%

Total time = 6years

Interest rate per month = 9/12

= 0.75%

Monthly payment =cost of the car + 0.75% of cost of car

Interest per month is 0.75%

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