Question

To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $960. One month later, you get the guitar back by paying the pawnbroker $1,472. What annual interest rate did you pay? Round to the nearest tenth of a percent.

Answer 1

ok so how much more did you pay?

Answer 2

640% by my calculations

Answer 3

probably totally wrong though

Answer 4

Tbh this is a math problem about Annual interest rate and yea that kinda sounds off..lol

Answer 5

I figure that since you payed 53.3333....% interest in a month you just multiply that by 12 probably wrong

Answer 6

I have no idea.

Answer 7

@zepdrix

Answer 8

Ask him for help?