*Loan,banking and credit>>>auto loan

The interest rate on an auto loan was 7 7/8% last month. This month, the interest rate is 9 3/4%?

How many percentage points has the interest rate increased? (please explain how you solve this problem).

im not gonna do it for you cuz 1) you have to learn it 2) i suck at math

but i do know that to add or subtract fractions, you need to have common denominators. thats that cool number on the bottom. so you what number do you multiply 4 by to get 8? once you find that, take that number and multiply both parts of the fraction by it. 3*that number and 4* that number. so then you have a number over 8 for both fractions. then you take the 9 and the fraction minus the 7 and the fraction. thats your answer. good luck with your hw :)

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