Mathematics, 27.08.2020 01:01 amp92904
High interest rates make it difficult for people to pay off credit card debt in a reasonable period of time. The interest I (in dollars) paid on a $10,000 debt over 3 years when the interest rate is r% can be approximated by the equation shown below.†
I
175.393
+ 0.663 = r
If the credit card interest rate is 23.6%, find the amount of interest paid during the 3 years.
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