domonique16dh domonique16dh
  • 15-12-2019
  • Mathematics
contestada

You take out a ​$22,500 car loan at 9.6​% APR What is the monthly or periodic interest​ rate?

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 16-12-2019

Answer:

  0.8%

Step-by-step explanation:

The monthly rate is found by dividing the annual rate by the number of months in a year. There are 12 months in a year, so the monthly rate is ...

  9.6% / 12 = 0.8%

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