Question: Consider the statement The interest rate on auto loans has increased 50% over the past decade and now stands at 6%. What can you conclude?

Consider the statement "The interest rate on auto loans has increased 50% over the past decade and now stands at 6%." What can you conclude? Question content area bottom Part 1 Choose the correct answer below. A. The interest rate a decade ago was 44% because 50plus6equals56, and 100minus56equals44. B. You can't conclude anything, because not enough information is given in the statement. C. The interest rate a decade ago was 4% because 50% of 4 is 2, and 4plus2equals6. D. The interest rate a decade ago was 44% because 50minus6equals44. E. The interest rate a decade ago was 4% because 50% of 4 is 2, 2 times 50 equals 100 and 6 divided by 150 equals 0.04, or 4%. F. You can't conclude anything because the statement makes no sense

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!