josaq8546 josaq8546

22-02-2024
Mathematics

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Harold pays 5% interest on his $26,000 college loan and 10% interest on his $16,000 car loan. What average interest rate does he pay on the total $42,000 he owes?

a. 7.5%
b. 8.0%
c. 8.5%
d. 9.0%

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