Question Help O To borrow money, you pawn your guitar Based on the value of the guitar, the pawnbroker loans you $60 One month later, you get the guitar back by paying the pawnbroker $1472 What annual interest rate did you pay? You wil pay a simple interest

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.3: Arithmetic Sequences And Series
Problem 36E
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Question Help O
To borrow money, you pawn your guitar Based on the value of the guitar, the pawnbroker loans you $60 One month later, you get the guitar back by paying the pawnbroker $1472
What annual interest rate did you pay?
You wil pay a simple interest
Transcribed Image Text:Question Help O To borrow money, you pawn your guitar Based on the value of the guitar, the pawnbroker loans you $60 One month later, you get the guitar back by paying the pawnbroker $1472 What annual interest rate did you pay? You wil pay a simple interest
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