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To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $1080. One month later, you get the guitar back by paying the pawnbroker $1472. What annual interest
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Dec 7, 2020
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To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $1080. One month later, you get the guitar back by paying the pawnbroker $1472. What annual interest rate did you pay?
Mathematics
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Sam Harwell
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The annual rate must 36% The guy didn’t wait a whole year to get his guitar back he waited a month.
Reda
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Dec 9, 2020
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The annual rate interest: r = 640.2%
Ersel Er
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Dec 11, 2020
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Ersel Er
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