Answer:
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 = [tex]\frac{interest\ payment}{borrow\ amount}[/tex] ...........1
put here value we get
interest rate = [tex]\frac{6600}{66000}[/tex]
interest rate = 0.10
interest rate = 10%
