MercyY528237 MercyY528237

29-10-2022
Mathematics

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To borrow money, you pawn your guitar Based on the value of the guitar, the pawnbroker loans you 5840 One month later, you get the guitar back by paying the pawnbroker $1272 What annual interest rate did you pay?You will pay a simple interest rate of %(Round to the nearest whole number as needed)

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MalvinG728221 MalvinG728221

29-10-2022

1272 = 5840 x r x 1

r = 1272 / 5840

r = 0.22

r = 22%

Interest rate = 22 %

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