0:00
You borrowed $6 ,204.
00:03
Eight months later, you pay back $8 ,329.
00:09
What was your interest rate? let's see how much you paid in interest.
00:13
Let's subtract that.
00:14
It's going to be 25.
00:16
You paid $2 ,125.
00:19
So that's going to be our interest.
00:21
And that's determined by the principal, the rate, and the time.
00:24
So let's go 2125.
00:26
You borrowed the 6204.
00:29
We're looking for that interest rate.
00:31
My time is eight months.
00:33
So we're going to go eight months.
00:35
Now, our interest rate is going to be per year.
00:37
So what i want to do then is i'm going to say, we need to have one year is 12 months...