SOLUTION: Mr. Mogi borrowed $9000 for 10 years to make home improvements. If he repaid a total of $20,000 at what interest rate did he borrow the money?

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Question 1154444: Mr. Mogi borrowed $9000 for 10 years to make home improvements. If he
repaid a total of $20,000 at what interest rate did he borrow the money?

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+20000+-+9000+=+11000+
+11000+%2F+9000+=+11%2F9+
+11%2F9+=+1.2222+
The rate is 122.22 %
( rounded off )