Larry has taken out a $600 loan with a 12 percent interest rate to buy a laptop computer. he needs to repay the loan by the end of two years. he will be paying $28.24 every month for two years. what kind of interest rate is larry being charged? explain the reasons for your answer.

The is the concept of financial mathematics, given that Larry has a loan of $600 which has an interest rate of 12%, which is payable within 2 years. This mode of payment is called the simple interest mode of payment. This is because the he has been given a fixed periodic amount of payment. In compound interest, the amount payable is not fixed.

B.the point lies directly on the regression