Elisa needs money to repair her home air conditioner, so she pawns her bicycle. The pawnbroker loans Elisa $270. Fourteen days later, Elisa gets her bicycle back by paying the pawnbroker $286.80. What annual simple interest rate did the pawnbroker charge Elisa? Assume 360 days in a year.

Elisa needs money to repair her home air conditioner, so she pawns her bicycle. The pawnbroker loans Elisa $270. Fourteen days later, Elisa gets her bicycle back by paying the pawnbroker $286.80. What annual simple interest rate did the pawnbroker charge Elisa? Assume 360 days in a year.

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Description: Elisa needs money to repair her home air conditioner, so she pawns her bicycle. The pawnbroker loans Elisa$270.Fourteendays later, Elisa gets her bicycle back by paying the pawnbroker$286.80.What annual simple interest rate did the pawnbroker cha

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

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Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.

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Question

Elisa needs money to repair her home air conditioner, so she pawns her bicycle. The pawnbroker loans Elisa

$270.

Fourteen

days later, Elisa gets her bicycle back by paying the pawnbroker

$286.80.

What annual simple interest rate did the pawnbroker charge Elisa? Assume

360

days in a year.

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