My cousin borrowed $15,000 for a new car loan for 5 years. He told me that at the end of the loan, he had paid $21,000 for the interest and principal. What was the rate of the loan?

The rate of the loan was 1.4%

Step-by-step explanation:

Set up Equation:

$15,000n = $20,000

Substitute Variable

n = 1.4

Check

1.4% x $15,000 = $20,000

set each factor equal to 0

4x-3 = 0

2x-1 = 0

solve for x.

4x-3=0

4x=3

x= 3/4

solve for x. 

2x-1= 0

2x= 1

x= 1/2

your answer should be 1/2 is less than or equal to x and 3/4 is greater than or equal to x

%40

step-by-step explanation: