SOLUTION: If a man borrowed $500 from a pawnshop for 2 months and then had to pay back $560, what annual simple interest rate did he pay? Put your answer in percentage form and then round it
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Question 905266: If a man borrowed $500 from a pawnshop for 2 months and then had to pay back $560, what annual simple interest rate did he pay? Put your answer in percentage form and then round it to the nearest hundredth. Answer by richwmiller(17219) (Show Source):
