To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $1080. One month later, yo

Question

2 years ago

5

u get the guitar back by paying the pawnbroker $1472. What annual interest rate did you pay?

2 answers:

Alla [95] · Answer 1 · 2022-07-25T23:38:42+03:00

Alla [95]2 years ago

7 0

The annual rate must 36% The guy didn’t wait a whole year to get his guitar back he waited a month.

Serhud [2] · Answer 2 · 2022-07-25T21:41:01+03:00

Serhud [2]2 years ago

4 0

The annual rate interest: r = 640.2%

To borrow​ money, you pawn your guitar. Based on the value of the​ guitar, the pawnbroker loans you ​$1080. One month​ later, yo