Sue and joe paid a total of $6,600 in interest payment for the year. they borrowed $66,000. what is their interest rate?
a. 1b. 11c. 12d. 125

interest rate = 10%

Explanation:

given data

total interest payment =  $6,600

borrowed =  $66,000

to find out

interest rate

solution

we get here interest rate that is express as

interest rate =   ...........1

put here value we get

interest rate =

interest rate = 0.10

interest rate = 10%

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answer; (false);