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Mr. Gabel borrowed $1860 to buy a computer. He will pay $71.30 per month for 30 months. Find the simple interest rate for his loan.

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Answer:

 Mr. Gabel borrowed $1860 to buy a computer. He will pay $71Mr. Gabel borrowed $1860 to buy a computer. He will pay $71.30 per month for 30 months. Find the simple interest rate for his loan.P= 1860R= xT= 30 months = 2.5 years to find out how much Interest he pays:

71.30 (30)

= $2139

$

= 279

I = $279

I= prt

279 = 1860 (r)(2.5)

279 = 4650r

0.06 = r

6% 

Step-by-step explanation:

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