Question
(5 points) To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $960. Two months later,
(5 points) To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $960. Two months later, you get the guitar back by paying the pawnbroker $1,472. What annual interest rate did you pay?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
11th edition
134141083, 978-0134141084
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