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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?
 2 years ago
 2 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?
 2 years ago
 2 years ago

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apoorvkBest ResponseYou've already chosen the best response.1
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 amountborrowed 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.
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
what does that equal btw
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
Whatever it should equal.
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
Well it's true!
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
understanding this guys answer...its right but what is the percentage
 2 years ago

aminah.love18Best ResponseYou've already chosen the best response.0
ooh a medal...thanks@life and jack
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
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!
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
u dont need your lungs id be happy to remove them heh heh heh
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
I'm pretty sure I need all 4 humph.
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
Buttbreath!
 2 years ago

aminah.love18Best ResponseYou've already chosen the best response.0
buttbreath? thats pretty serious
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
thats biskerz your lookin at
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
YOU JUTS SAID HAIR BALL! CATS get hairballs!
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
So does your dog HAHAHA
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
no he doesnt take it back
 2 years ago

JackJonesBest ResponseYou've already chosen the best response.4
i hate u your not my fan anymore u insulted my cute dog
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
You insulted my werewolf lineage!
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
ME too cabbagebrain..
 2 years ago

LifeIsADangerousGameBest ResponseYou've already chosen the best response.1
I have several bees nest in my yard.
 2 years ago

aminah.love18Best ResponseYou've already chosen the best response.0
no more fighting now
 2 years ago

ChlorophyllBest ResponseYou've already chosen the best response.0
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%
 2 years ago
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