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.Which equation shows the interest rate that Tran is paying?

The interest rate is the interest paid divided by the amount borrowed. Tran pays $800 in interest on a $10,000 loan, so 800 ÷ 10,000 = 0.08, or 8%. The equation 800 ÷ 10,000 = .08 is choice A.

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