The interest rate on a car loan has decreased 29.3% over the last 10 years and is now 7.7%. what was the rate 10 years ago? (express your answer rounded correctly to the nearest tenth of a percent! )

We know that the interest decreased by 29.3%, therefore what was left now is simply just 70.7% of the original, therefore we divide this by 0.707

rate = 7.7% / 0.707

rate = 10.89%

So the rate was 10.89% 10 years ago

step-by-step explanation:

i think something is missing in your question because y-1=(x-12) would not pass through the point (-4,-3). because if you replace x by -4 your are supposed to find y=-3 which is not the case her. if you replace x by -4 you find =-15.

i assume the right equation is y-1=1/4*(x-12) because this one is passing through both your points (if you are interested to know how i found that out i can tell you).

in this equation if i replace x by -4 i find y=-3 and if i replace x by 12, i find y=1 so the line representing this equation is passing through those 2 points.

then the standard form of the equation is finding an expression of y in function of x

y-1=1/4*(x-12)

y=x/4-3+1

y=x/4-2

hope that .

do you confirm there was a mistake in the question?