A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 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
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?

This Question is Closed

apoorvk
 2 years ago
Best ResponseYou've already chosen the best response.1i 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.

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

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

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

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

aminah.love18
 2 years ago
Best ResponseYou've already chosen the best response.0ooh a medal...thanks@life and jack

LifeIsADangerousGame
 2 years ago
Best ResponseYou've already chosen the best response.2Cuz 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!

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

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

LifeIsADangerousGame
 2 years ago
Best ResponseYou've already chosen the best response.2Buttbreath!

aminah.love18
 2 years ago
Best ResponseYou've already chosen the best response.0buttbreath? thats pretty serious

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

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

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

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

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

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

LifeIsADangerousGame
 2 years ago
Best ResponseYou've already chosen the best response.2ME too cabbagebrain..

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

aminah.love18
 2 years ago
Best ResponseYou've already chosen the best response.0no more fighting now

Chlorophyll
 2 years ago
Best ResponseYou've already chosen the best response.3Simple 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%

SureStarFire
 2 months ago
Best ResponseYou've already chosen the best response.0i remember this from chat almost a month ago

Jman00000
 27 days ago
Best ResponseYou've already chosen the best response.0XD that was amazing, and whats even better at the end the answer was there "16%"
Ask your own question
Ask a QuestionFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.