Sanjay has borrowed ​$670 on his​ father's watch from a pawn shop. He has agreed to pay off the loan with $700 one month later. What is the annual interest rate that he is being​ charged? Assume that...

Sanjay has borrowed ​$670 on his​ father's watch from a pawn shop. He has agreed to pay off the loan with $700 one month later. What is the annual interest rate that he is being​ charged? Assume that the interest on the loan is computed using simple interest