Question

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?

Answer 1

i 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 amount-borrowed 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.

Answer 2

I agree.^

Answer 3

lol life

Answer 4

what does that equal btw

Answer 5

Whatever it should equal.

Answer 6

LOL

Answer 7

i need help again

Answer 8

Well it's true!

Answer 9

with? what@jack

Answer 10

understanding this guys answer...its right but what is the percentage

Answer 11

ooh a medal...thanks@life and jack

Answer 12

Cuz 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!

Answer 13

HAHAHAHAHAhah

Answer 14

u dont need your lungs id be happy to remove them heh heh heh

Answer 15

I'm pretty sure I need all 4 humph.

Answer 16

werewolf trash

Answer 17

LMAO

Answer 18

Dog poop!

Answer 19

hairball

Answer 20

Buttbreath!

Answer 21

WOW

Answer 22

buttbreath? thats pretty serious

Answer 23

your the dog not me

Answer 24

thats biskerz your lookin at

Answer 25

YOU JUTS SAID HAIR BALL! CATS get hairballs!

Answer 26

werewolfs get em too

Answer 27

So does your dog HAHAHA

Answer 28

no he doesnt take it back

Answer 29

NEVERRR

Answer 30

i hate u your not my fan anymore u insulted my cute dog

Answer 31

You insulted my werewolf lineage!

Answer 32

im sorry

Answer 33

ME too









cabbagebrain..

Answer 34

what ever

Answer 35

I have several bees nest in my yard.

Answer 36

i gtg

Answer 37

bye jack

Answer 38

bye!

Answer 39

no more fighting now

Answer 40

Simple 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%

Answer 41

i remember this from chat almost a month ago

Answer 42

XD that was amazing, and whats even better at the end the answer was there "16%"