Francisco borrows $870 from his parents and agrees to pay them back the same amount each month without interest. After 6 months of payments, he still owes them $570. What is the rate at which Francisco pays back his parents?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...
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Francisco borrows $870 from his parents and agrees to pay them back the same amount each month without interest. After 6 months of payments, he still owes them $570. What is the rate at which Francisco pays back his parents?

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