Jes Pisano Borrowed $4,800 for 4 Years

question 36

Short Answer

Jes Pisano borrowed $4,800 for 4 years. The maturity value of the loan was $7,084.80. What was the rate of interest charged? (Round to the nearest tenth of a percent)

---

Definitions:

Transtheoretical Model

A theory of behavior change that outlines six stages of readiness to change, used to conceptualize the process of intentional change.

Smoking Cessation

A process involving various strategies and treatments to help individuals stop using tobacco products.

Substance Abuse

The dangerous or damaging consumption of mind-altering substances, such as alcohol and illegal drugs.

Physical Activity

Any bodily movement produced by skeletal muscles that requires energy expenditure, including activities undertaken while working, playing, traveling, or engaging in recreational pursuits.