Page 349use ths page to Save proyer Enrique borrowed $23,500 to buy a car. He pays his uncle 2% interest on the $4,500 he borrowed from him, and he pays the bank 11.5% interest on the rest. What average interest rate does he pay on the total $23,500? (Round your answer to the nearest tenth of a percent.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 32PPS
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I need assitance answering the Enrique ? with the attached methodology.

Page 349use ths page to Save proyer
Enrique borrowed $23,500 to buy a car. He pays his uncle 2% interest on the $4,500 he
borrowed from him, and he pays the bank 11.5% interest on the rest. What average
interest rate does he pay on the total $23,500? (Round your answer to the nearest tenth
of a percent.)
Transcribed Image Text:Page 349use ths page to Save proyer Enrique borrowed $23,500 to buy a car. He pays his uncle 2% interest on the $4,500 he borrowed from him, and he pays the bank 11.5% interest on the rest. What average interest rate does he pay on the total $23,500? (Round your answer to the nearest tenth of a percent.)
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