SOLUTION: The interest rate on an equity line of credit was 7 7/8 % last month. This month the interest rate is 9 3/8 %. How many percentage points has the interest rate increased since last

Algebra ->  Numeric Fractions Calculators, Lesson and Practice -> SOLUTION: The interest rate on an equity line of credit was 7 7/8 % last month. This month the interest rate is 9 3/8 %. How many percentage points has the interest rate increased since last      Log On


   

Question 373757: The interest rate on an equity line of credit was 7 7/8 % last month. This month the interest rate is 9 3/8 %. How many percentage points has the interest rate increased since last month? Show your work and write the answer in a sentence.
Answer by edjones(8007) About Me  (Show Source):
You can put this solution on YOUR website!
9 3/8
7 7/8
------subtract
1 4/8 percentage points the interest rate increased since last month.
.
Ed