# What is the annual interest rate if $3,600 was borrowed and $4,248 was paid back after 18 months?

So let start by diving 3,600 by 4248.

Now, rounding that to the next number, I would say about 0.85 or 85%

So since you are asking for annual interest rate, it would have to be I think around 0.070833333

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To find the annual interest rate, we can use the formula for simple interest:

[I = P \times r \times t]

Where:

- (I) is the interest earned,
- (P) is the principal amount (the amount borrowed),
- (r) is the annual interest rate (in decimal form),
- (t) is the time the money is borrowed for (in years).

Given:

- (P = $3600),
- (I = $4248 - $3600 = $648),
- (t = 18) months (= 18/12 = 1.5) years.

We can rearrange the formula to solve for (r):

[r = \frac{I}{P \times t}]

Substituting the given values:

[r = \frac{648}{3600 \times 1.5}]

[r = \frac{648}{5400}]

[r ≈ 0.12]

So, the annual interest rate is approximately (0.12) or (12%) per year.

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When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.

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