simple interest rate $8,637 with $637 down and $279.56 per month for 36 month.

Question

A cor dealer will sell you a used car for $8,637 with $637 down and payment of $129.56 per month for 36 months. What is the simple interest rate? (round answer to the nearest tenth)

Answer 1

borro=8,637=637=8,000$

paement=129.56 or 279.56

for 36 months (3 yeers)

step1: 8,000$/36=222.22$/month tu pae off without NE interest

so 129.56 is bad number, yuze 279.56

me get 15.55% interest