Your aunt bought a new car. after three months of car payments she owed a total of $22,275 to the bank for the car loan. after 12 months, she owed $18,900 to the bank for the car loan. what was her average payment rate on the principal of the car loan during this time?

Total amount of money owed after three months = $22275
Total amount of money owed after 12 months = $18900
Amount of money repaid on 9 months = 22275 - 18900
                                                             = 3375 dollars
Then
Average payment rate on the principal = 3375/9
                                                              = 375 dollars
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