israel1machorro
New member
- Joined
- Mar 10, 2015
- Messages
- 2
Q1: You hock your bicycle to the pawn shop for $120. The pawn shop will charge you $20 fee for holding the bicycle, when you come to get the bicycle back.
1. if you consider the fee as simple interest, what is the interest rate if you comeback in 2 months
Q2: A different pawn shop will give you $150 for your bicycle, but charges $15 per month fee.
1. if you consider the fee as simple interest, what is the interest rate if you comeback in 2 months.
***Basically these two questions will help me solve the rest of the practice questions. which numbers I plug in to the formula?***
1. if you consider the fee as simple interest, what is the interest rate if you comeback in 2 months
Q2: A different pawn shop will give you $150 for your bicycle, but charges $15 per month fee.
1. if you consider the fee as simple interest, what is the interest rate if you comeback in 2 months.
***Basically these two questions will help me solve the rest of the practice questions. which numbers I plug in to the formula?***