A family made a down payment of $300
and borrowed the balance on a set of
encyclopedias that cost $750. The
balance with interest was paid in 9
monthly payments of $57 each and a
final payment of $21. The amount of
interest paid was what percent of the
amount borrowed?
Select.
A) 6 %
B) 12 %
C) 14 %
D) 18.66 %
E) 20 %

Rationale: interest paid = 57 * 9 + 21 - 450 = 84 % off the balance = ( 84 / 450 ) * 100 = 18.66 % answer is d .
Answer: D