SOLUTION: Can anyone help Me with I been stumped on this problem for a hour To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $720. One mont

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Question 994084: Can anyone help Me with I been stumped on this problem for a hour
To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you $720. One month later, you get the guitar back by paying the pawnbroker $1472. What annual interest rate did you pay?
You will pay a simple interest rate of ???

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
1472-720=752
752/720*12=12.53=1253% APR