K To borrow money, you pawn your guitar. Based on the value of the guitar, the...

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K 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 $1170. What annual interest rate did you pay? You will pay a simple interest rate of % (Round to the nearest whole number as needed.) K 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 $1170. 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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To find the annual interest rate paid on the loan for pawning the guitar we first need to determine ... View the full answer