Eddie had a favorable simple annual interest rate on a used car loan, but he can’t remember what it was. His paperwork shows that he originally borrowed S4000 and paid a total of $1280 in interest on the

Eddie had a favorable simple annual interest rate on a used car loan, but he can’t remember what it was. His paperwork shows that he originally borrowed S4000 and paid a total of $1280 in interest on the 4-year loan. What was Eddie’s annual interest rate?

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Eddie had a favorable simple annual interest rate on a used car loan, but he can’t remember what it was. His paperwork shows that he originally borrowed S4000 and paid a total o…

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