# 2. If a person borrows \$475 at the beginning of the month and promises to pay back \$575.75 on payday at the end of the month,a) What is their monthly interest rate [(Final-Initial)/Initial*100%]? minus: 0(\$575.75-\$475) / \$475 x 100%\$100.75 / \$475 x 100%= 0.2121052632Therefore, monthly interest rate is 0.2121052632%i worked out the answer but just wanting know if i should let the answer remain in that long decimal places. thamks.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Question
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2. If a person borrows \$475 at the beginning of the month and promises to pay back \$575.75 on payday at the end of the month,
a) What is their monthly interest rate [(Final-Initial)/Initial*100%]? minus: 0
(\$575.75-\$475) / \$475 x 100%
\$100.75 / \$475 x 100%= 0.2121052632
Therefore, monthly interest rate is 0.2121052632%
i worked out the answer but just wanting know if i should let the answer remain in that long decimal places. thamks.

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