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To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $840. One month later, you get the guitar back by paying the pawnbroker $1270. …
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To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $840. One month later, you get the guitar back by paying the pawnbroker $1270. …
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Dec 12, 2024
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To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $840. One month later, you get the guitar back by
paying the pawnbroker $1270. What annual interest rate did you pay?
Mathematics
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Scott Radcliff
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The annual interest rate you paid is approximately 6.14%.
Susie Derkins
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Dec 18, 2024
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Susie Derkins
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