A Man Borrowed $9000 for Four Years Under Simple Interest

question 25

Short Answer

A man borrowed $9000 for four years under simple interest. At the end of the four years his balance due was $11,160. What annual simple interest rate did he pay?

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Definitions:

Aerobic Respiration

The process of producing cellular energy involving oxygen. Cells break down food in the mitochondria in a long, multistep process that produces roughly 36 ATP.

Nitrate

A compound containing nitrogen and oxygen (NO3-) that is a vital plant nutrient and can also be found in water supplies, where high levels can be harmful to health.

Electron Transport

A series of chemical reactions within cells that converts the energy stored in nutrients into ATP, the primary energy currency of the cell.

Pyruvate

A three-carbon compound that plays a vital role in energy production and biosynthetic processes in cells.