Faith borrowed $2250 for home repairs. She paid back 24 payments of $132 each. How much did she pay in interest on the loan?
Explained answer please!

Respuesta :

Answer:

0.17%

Step-by-step explanation:

if she paid 24 payments of $132, then as a total she paid 132 x 24 = 3168.

formula for simple interest = p x r x t divided by 100

difference : 918

so,  22500 x r x 24 divided by 100 = 918

22500 x r 24 = 91800

24r = 4.08

r = 4.08 divided by 24 = 0.17%

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