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You borrow $18,000 to buy a new car. You will pay $3,240 in simple interest at the end of 6 years. What is the annual interest rate on your purchase? Use the formula: I = Prt.

Respuesta :

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I = PRT/100
3240 = 18 000 * R * 6 /100
3240 = 180*R*6
3240 / (180*6) = R 
3 = R 
so the rate will be 3%.
MadMen9999

Answer:

3%

Step-by-step explanation:

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