Question 10(Multiple Choice Worth 1 points) (03.01 MC)
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Which equation justifies why 9 1/3 = 3square root9

1. (9 1/3)^3=9^(1/4*3) =9

2. (9 1/3)^3 = 9 (1/3+3)=9

3. (9 1/3)^3 = 9 (1/3-3)=9

4. (9 1/3)^3 = 9 (3-1/3)=9

The interest rate would be 2.4%.

We start out finding the total amount he pays, including interest. 

78.40/month * 12 months * 5 years = $4704

We take off the amount of principal:
4704-4200 = 504

This is the amount of interest he pays.  Now we use the simple interest formula, I=prt:

504=4200(r)(5)

Multiply 4200 and 5:
504=21000r

Divide both sides by 21000:
504/21000 = 21000r/21000
0.024 = r
2.4% = r