Jeffrey wants to take his mother out for dinner on her birthday, so he pawns his watch.
Question:
Jeffrey wants to take his mother out for dinner on her birthday, so he pawns his watch. The pawnbroker loans Jeffrey $75. Fourteen days later, Jeffrey gets his watch back by paying the pawnbroker $80.25. What annual simple interest rate did the pawnbroker charge Jeffrey?
If necessary round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.
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i 8025 7500 5...View the full answer
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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