John borrowed $20,000 from Beth. He pays $500 per month in interest. What is the percentage interest rate?

2.5%

Step-by-step explanation:

From the question, we are informed that John borrowed $20,000 from Beth and that he pays $500 per month in interest.

The percentage interest rate would be calculated thus:

= Amount paid as interest / Amount borrowed × 100

= 500/20000 × 100

= 2.5%

Step-by-step explanation:

we have the points

(5.3) and (12,7)

step 1

Find out the slope

The formula to calculate the slope between two points is equal to

substitute the values

step 2

Find the equation of the line in point slope form

we have

substitute

step 3

Convert to slope intercept form

Isolate the variable y