question 1 Suppose that you borrow

$2000.00

from a friend and promise to pay back

$3290.00

in

3

years. What simple interest rate will you pay?

Question content area bottom

Part 1

The simple interest rate is

enter your response here%

(Round to the nearest tenth as needed.)

quuestion 2

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

$600.

One month later, you get the guitar back by paying the pawnbroker

$1172.

What annual interest rate did you pay?

Question content area bottom

Part 1

You will pay a simple interest rate of

enter your response here%

(Round to the nearest whole number as needed.)