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 3 years ago
To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $960. One month later, you get the guitar back by paying the pawnbroker $1,472. What annual interest rate did you pay? Round to the nearest tenth of a percent.
 3 years ago
To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $960. One month later, you get the guitar back by paying the pawnbroker $1,472. What annual interest rate did you pay? Round to the nearest tenth of a percent.

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eyust707
 3 years ago
Best ResponseYou've already chosen the best response.0whats the initial amount you got?

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Be my hero, please Hero!

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Did you just reply something? It didn't show up :(

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Thanks! Can you help me with another, please?

Hero
 3 years ago
Best ResponseYou've already chosen the best response.1Pawn brokers are loan sharks

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0This is another question I am stuck on: A bank offers a CD that pays a simple interest rate of 5.5%. How much must you put in this CD now in order to have $8,000 for a kitchen remodeling project in two years? Round to the nearest cent.

Hero
 3 years ago
Best ResponseYou've already chosen the best response.1I = PRT 8000 = P(.055)(2) Solve for P

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0okay, Thanks! can you please stick with me while I try to work this out?

Hero
 3 years ago
Best ResponseYou've already chosen the best response.1I will. Even if I leave for a moment, just post your answer

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Thanks! Is it 727.27?

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0I did it again and got 7166.67?

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Oy. Did it again and got 7,207.21

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Are any of those right? I appreciate you looking.

Hero
 3 years ago
Best ResponseYou've already chosen the best response.1You can only generate that much money in interest if you already have a ton of money to begin with. The worst part about is that you can't even touch that money. You have to keep at least that amount in the bank at all times.

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0This sound horrible. lol

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Thank you so much for looking!

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0wait, that's a much bigger number than the original 8000?

Hero
 3 years ago
Best ResponseYou've already chosen the best response.18000 is not the original amount. That's the amount you would get in INTEREST after two years if you invested 27,727 dollars to begin with.

tightsnstuff
 3 years ago
Best ResponseYou've already chosen the best response.0Ohhh okay. Thank you!
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