## JackJones 3 years ago Zach borrowed four thousand dollars from his grandfather to buy a used car so he could travel to and from work. After working for 3 years, he has saved five thousand nine hundred twenty dollars to pay back to his grandfather. At what interest rate did Zach borrow the money?

1. apoorvk

i am assuming simple interest as you havent mentioned anything now principal amount=P=4000 rate of interest per annum=R=? t=no. of years borrowed for=3 now he is paying an interest of "I'=total final amount-borrowed principal= 1900 now I=(P x R x t)/100 1900=(4000x R x 3)/100 solve, you should get the rate of interest per annum. multiply by 100 to get interest %age.

I agree.^

3. JackJones

lol life

4. JackJones

what does that equal btw

Whatever it should equal.

6. apoorvk

LOL

7. JackJones

i need help again

Well it's true!

9. aminah.love18

with? what@jack

10. JackJones

understanding this guys answer...its right but what is the percentage

11. aminah.love18

ooh a medal...thanks@life and jack

Cuz I'm awesome like that...Jack you need to figure out the answer Lazy Doctors now! Humph. I'll never go into surgery with you around! You might be too lazy to figure out if I need my lungs!

13. aminah.love18

HAHAHAHAHAhah

14. JackJones

u dont need your lungs id be happy to remove them heh heh heh

I'm pretty sure I need all 4 humph.

16. JackJones

werewolf trash

17. aminah.love18

LMAO

Dog poop!

19. JackJones

hairball

Buttbreath!

21. aminah.love18

WOW

22. aminah.love18

buttbreath? thats pretty serious

23. JackJones

24. JackJones

YOU JUTS SAID HAIR BALL! CATS get hairballs!

26. JackJones

werewolfs get em too

28. JackJones

no he doesnt take it back

NEVERRR

30. JackJones

i hate u your not my fan anymore u insulted my cute dog

You insulted my werewolf lineage!

32. JackJones

im sorry

ME too cabbagebrain..

34. JackJones

what ever

I have several bees nest in my yard.

36. JackJones

i gtg

37. aminah.love18

bye jack

bye!

39. aminah.love18

no more fighting now

40. Chlorophyll

Simple Interest formula: I = p r t <=> r = I/ p * t The difference amount between borrowed and paid back is the interest: I = \$5,920 - \$4,000 = \$1,920 => Interest rate: r = 1,920 / 4,000 * 3 = .16 = 16%

41. SureStarFire

i remember this from chat almost a month ago

42. Jman00000

XD that was amazing, and whats even better at the end the answer was there "16%"