Tran got a loan of $10,000 from the bank to help pay for his new car. He agreed to pay $800 in interest for the use of this money.

To find the interest rate, divide the interest paid by the amount borrowed: $800 ÷ $10,000 = 0.08. Converting 0.08 to a percent gives 8%, so choice A, “800 ÷ 10,000 = .08,” is correct.

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