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 2 years, he has saved four thousand seven hundred twenty dollars to pay back to his grandfather. At what interest rate did Zach borrow the money?

A)eight percent

B)nine percent

C)fifteen percent

D)forty-two percent

Answer 1

solve for t

Answer 2

4000*2*t=4720-4000

Answer 3

t=.09
which is 9 %

Answer 4

Any Questions? ^_^