HOW MANY PERCENTAGE POINTS HAS THE INTEREST RATE INCREASED? Please explain :)
The interest rate of an auto loan was 7 7/8 last month. This month the interest rate is 9 3/4...?
The answer is simply 9 3/4 - 7 7/8.
For an explanation of percentage points check out...
http://en.wikipedia.org/wiki/Percentage_...
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